China Covid Policies Affecting U.S. Economy Growth

GOLD

China’s restrictive Covid polices are causing protests in many cities today. Locking down the country will directly affect the supply chain issues in the U.S. and will affect growth in our economy. Gold sold off on this news, reaching $1,741, then its rallying off the bottom. At 11am PT today, Gold is trading at $1,743 per ounce, down $2 on average volume.

SILVER

Silver sold-off on the China news, breaking below the key $21 per ounce level. Silver reached a low of $20.84 before seeing bargain buyers. At 11am PT today, Silver is down $0.32 per ounce, trading at $21 on normal volume.