US Dollar Rallies, Causing Gold To Drop

GOLD

A rally in the U.S. Dollar Index (90.70) and a uptick in the 10-Year Treasuries (1.15%) caused by decline in December U.S. retail sales numbers. Plus, the Producer Price Index for December was disappointing all came together to push the Gold price lower this morning. At 11am PT today, Gold is trading at $1,839 per ounce, down $24 on average volume.

SILVER

The Silver price fell with Gold this morning, reaching a low of $24.56 before finding bargain buyers. Breaking below $25 is putting Silver is a bearish environment for traders and investors, we need to see it quickly move back above that level by early next week. At 11am PT today, Silver is down $0.85 per ounce, trading at $24.85 on good volume.