Central Banks Adding Liquidity To Their Financial Markets

GOLD

The world’s equity, bond, and precious metal markets are in turmoil due to the expanding coronavirus fears. Ongoing news from one country after another showing increasing number of victim and the effects on their economies. The coronavirus is causing central banks to add massive amounts of liquidity to their financial markets, driving interest rates to a 3-year lows. The Gold price has been trading above and below the key $1,650 level all day. At 11am PT today, Gold is trading at $1,645 per ounce, down $1 on normal volume.

SILVER

Silver briefly moved above the important $18 level in overnight trading. Silver couldn’t hold the rally and dropped to a low of $17.64 before finding bargain buyers. At 11am PT today, Silver is down $0.23 per ounce, trading at $17.75 on average volume.