April Showed Big Gains for Gold

GOLD

This morning the Institute for Supply Management, an association of purchasing managers, reported that its manufacturing index dropped to 41.5 last month from 49.1 in March; anything below 50 signals contraction. Gold traded as low as $1670 per ounce in Asia overnight, but moved back above $1,700 after the manufacturing index news. However, April 2020 showed the biggest monthly gain for Gold since August 2019. At 11am PT Today, Gold is trading at $1,705 per ounce, up $10 on excellent Friday volume.

SILVER

Silver fell with Gold this morning, reaching a low of $14.75 before bargain buyers stepped in. Every time Silver drops below $15, the demand for physical Silver investment products (1oz Silver Eagles & Maple Leaf) increases. At 11am PT today, Silver is up $0.04 per ounce, trading at $15.02 on good volume.