Weaker Euro Drives Up U.S. Dollar Index
The ECB cut its 2019 growth projections and postponed any interest rate increases. This caused a weaker Euro, which drove the U.S. Dollar Index to a three week high. A strong U.S. Dollar isn’t good for the Gold price, and Gold is holding in the $1,280 to $1,290 range. At 11am PT Today, Gold is down $1 per ounce, trading at $1,286 on good volume.
Silver briefly broke down below the key $15 support level, reaching $14.93 per ounce. Silver is now trading above and below the important $15 level. At 11am PT today, Silver is trading at $15.03, down $0.02 per ounce on good volume.