Bargain Buying Moves Gold Above $1,770 Levels

GOLD

After reaching a high of $1,791 in Asian and European trading this morning, Gold saw some not unexpected profit taking this morning as the markets rolled into the United States. Sellers took the price down to $1,758 before bargain buying moved the price back above $1,770 levels. As we approach the long holiday weekend, there is no important news other then worsening coronavirus effects on our country’s economy. At 11am PT today, Gold is down $10 per ounce, trading at $1,773 on normal volume.

SILVER

Silver reached a high of $18.55 per ounce in overnight trading in Asia. Demand lightened up as it moved into Europe and the U.S., hitting a low of $17.75. Right now, Silver is trading above and below the important $18 level. At 11am PT today, Silver is trading at $17.98, down $0.22 on good volume.