Gold futures closed up $9.60 at $1,115.30 today. Prices closed nearer the session high today and hit a fresh two week high. The market was supported by a lower U.S. dollar index and higher crude oil futures prices today. Bulls did gain some fresh upside near term technical momentum today. However, gold prices are still in a four week old downtrend on the daily bar chart.
Silver futures closed up 20.5 cents at $17.535 an ounce today. Prices closed nearer the session high today, hit a fresh three week high and closed at a bullish monthly high close. The key "outside markets" were in a mostly bullish posture for silver today, as the U.S. dollar index was lower and crude oil prices were higher.
The U.S. dollar index closed down 44 points at 81.29 today. Prices closed nearer the session low today and scored a mildly bearish "outside day" down on the daily bar chart. The bulls still have the overall near term technical advantage. Bulls' next upside price objective is to close prices above solid technical resistance at last week's high of 82.52.
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