Boris Johnson Resigns as British Pound Falls

GOLD

With England’s Prime Minister Boris Johnson resigning today, the British Pound fell further against the U.S. Dollar. The U.S. Dollar Index reached 107.27, another new 20-Year high. Gold found support in Asian and European trading in the $1,740 area, and has traded between $1,740 and $1,750 in the U.S. markets. At 11am PT today, Gold is trading at $1,741 per ounce, up $4 on average volume.

SILVER

This morning in Asian and European trading there was lots of bargain buyers as the Silver price held above the $19.20 per ounce level. After a short consolidation, I would like to see Silver move back above the long-term $20 per ounce level. At 11am PT today, Silver is up $0.05 per ounce, trading at $19.24 on normal volume.