This morning spot gold and silver are both reacting positive after the government job report. The U.S. Dollar Index declined by 0.69 cents to $79.60 and this will often help to inflate the precious metals which are now considered a true form of currency. There is also chatter of a possible QE-3 by the Federal Reserve Bank and this action would only keep the U.S. Dollar Index down. Therefore, all precious metals would benefit from higher cash reserves.
The iShares Silver Trust(NYSE:SLV) is trading higher by 0.30 cents to $28.34 this morning. The SPDR gold shares are trading higher by $1.36 to $135.56. The iShares Comex Gold Trust(NYSE:IAU) is trading higher by 0.14 cents in the pre-market to $13.68. Should the U.S. Dollar Index decline and the European Union continue to have trouble gold and silver can trade higher.