Weakness with Crude Oil and The U.S. Dollar Index Put Pressure on Gold

GOLD

Weakness in the crude Oil price and continued strength in the U.S. Dollar Index put pressure on the Gold price this morning. Gold reached a low of $1,721 before finding support. The weakness in the Gold price is partial due to the coming Federal Reserve interest rate increase and possible increase by other major central banks. At 11am PT today, Gold is down $14, trading at $1,725 on average volume.

SILVER

The Silver price declined with gold this morning, reaching a low of $18.32 before showing increased demand. At 11am PT today, Silver is trading at $18.42 per ounce, down $0.40 on normal volume.