A Strong Break Out For Gold Is Coming

GOLD

After Trump signed the $908 billion COVID-19 stimulus bill into law last night, the Silver and Gold price started moving higher. The Gold price reached a high of $1,897 before seeing short term profit taking, driving the price back to unchanged. This was Gold’s second attempt to break the $1,900 resistance level this month; it normally takes Gold three times to break an important resistance level. It’s coming soon, and I expect it to be a strong break. At 11 am PT today, Gold is trading at $1,879 per ounce, unchanged from last Thursday.

SILVER

The signing of the $908 billion COVID-19 stimulus law, which is inflationary, helped Silver rally this morning. Silver reacted more positively than Gold with it rallying over $.80 per ounce before seeing some light selling. At 11 am PT today, Silver is trading at $26.32 per ounce, up $0.52 on good volume.