An Opportunity To Add To Your Gold Holdings

GOLD

After yesterday’s highly volatile day we got some consolidation above the support level today. In overnight trading Gold reached a low of $1,624 per ounce before bargain buyers appeared, driving the price back above $1,640 per ounce. I believe this small correction is a great opportunity to add to your Gold holdings, as governments around the world continues to add liquidity to their economies due to the coronavirus. At 11am PT today, Gold is trading at $1,646 per ounce, down $1 on good volume.

SILVER

Silver got hit worse than Gold, reaching a low of $17.74 per ounce in overnight Asian trading. Once Silver broke the $18 support level, professional traders sold short, driving the price to the lowers of the day. Silver needs to quickly move back above the $18 level to rebuild the confidence of traders and investors. At 11am PT today, Silver is down $0.24 per ounce, trading at $17.96 on good volume.