Weekly Jobless Claims Fall To A 51 Year Low

GOLD

Today, the U.S. Labor Department said that weekly jobless claims fell by 43,000 to 184,000, down from the previous week's revised estimate of 227,000 claims. Economists expected to see 218,000. This is the lowest number in 51 years and a sign of a recovering economy. However, a rally in the U.S. Dollar Index (over 96.25) caused Gold to sell-off this morning. At 11am PT today, Gold is trading at $1,782 per ounce, down $6 on average volume.

SILVER

The Silver price dropped $0.40 this morning on traders' concerns over what tomorrow’s Consumer Price Index numbers will show. I just posted a great article called “Silver Demand Grows as Supply Shrinks” on our website, it's well worth reading. At 11am PT today, Silver is down $0.37 per ounce, trading at $22.17 on strong volume.