U.S. Dollar Rates Put Pressure on Gold Price

GOLD

Gold has traded this morning between $1,784 and 1,799 per ounce, as it builds support for the next move above $1,800. The U.S. Dollar and 10-Year Treasury rates moved higher in early trading putting pressure on the Gold price. At 11am PT today, Gold is trading at $1,789, down $3 on normal volume.

SILVER

When Gold reached its lows this morning, Silver couldn’t hold above the key $23 support level. Silver reached low of $22.82 before finding bargain buying and is moving toward the $23 area right now. At 11am PT today, Silver is down $0.15, trading at $23 per ounce on average volume.