GOLD

Gold moved back above the key $1,270 per ounce level this morning based on a number of factors:

  1. It was reported this morning that U.S. Retail Sales fell 0.3% in May, the weakest in 16 months
  2. Interest rates for the Ten-year Treasury bonds dropped to 2.10%
  3. The U.S. Dollar Index declined this morning
  4. Janet Yellen, Chairman of the Federal Reserve, will speak today and she is expected to have a dovish tone on future interest rate increase

At 11am PDT today, Gold is up $9, trading at $1,276 per ounce, on active volume.

SILVER

Silver FINALLY, out preformed Gold today, breaking back over the $17 per ounce resistance/support level. Silver hit a high of $17.33 before seeing short-term profit taking. At 11am PDT today, Silver is trading at $17.20 per ounce, up $0.38 on excellent volume.