$19 For Silver Could Be Difficult Unless Gold Moves Above $1,850

GOLD

Today is the day that Gold exploded over the information of $1,800 per ounce resistance level. Gold reached a high of $1,820 per ounce before seeing some light profit-taking and short sales. Other than increasing safe haven investment due to the ongoing COVID-19 problems in the U.S., and more stimulus measures taken by the Federal Reserve, there wasn’t any other news. I would expect to see Gold consolidate recent gains and then continue the move to $2,000 before year end. At 11am PT Today, Gold is trading at $1,813 per ounce, up $16 on excellent volume.

SILVER

When Gold moved above $1,800, Silver broke above $18.50 and hit a high of $18.90 before settling down. Many professional traders feel $19 could be a difficult barrier to break unless Gold moves above $1,850. At 11am PT today, Silver is up $0.41 per ounce, trading at $18.75 on good volume.