Asian And European Precious Metal Markets Go Crazy

GOLD

After the announcement that the president and first lady tested positive for the COVID-19 virus, the Asian and European precious metal markets went crazy. First, the Gold price quickly dropped to $1,888, then the price rallied $30 to $1,918 before seeing calm come to the trading. Today we received a disappointing payroll number from the Labor Department, showing the unemployment rate is still 7.9%. At 11 am PT today, Gold is trading at $1,902 per ounce, down $6 on heavy trading.

SILVER

Silver also suffered a rocky trading day, range from $23.42 on the low to $24.29 for the high. With Gold continuing to hold around $1,900, Silver needs to move back above the key $24 level. At 11am PT today, Silver is down $0.20 per ounce, trading at $23.78 on heavy trading.