Value Of U.S. Dollar And U.S. Treasury Yields Dropping Moves Gold Higher

GOLD

At the beginning of July, the U.S. Dollar Index was trading at 97.23, and in just a month it fell to 92.62, an incredible 5% drop in just 30 days. The drop in the value of the U.S. dollar combined with U.S. Treasury yields dropping to historic lows has added additional reasons why Gold, valued in U.S. dollars, continues to move higher. Gold traded last night and today between $1,957 and $1,987 per ounce, as it builds a great base. At 11am PT today, Gold is trading at $1974.

SILVER

Silver found buyers last night, taking the price up over $1, to $24.48 per ounce. As Gold so off from its highs, the price of Silver declined but held the increase. Demand for popular Silver investment products remains strong, as most of the world’s leading mints continue to be back-ordered. At 11am PT today, Silver is up $0.82, trading at $24.17 per ounce.