Could Gold Be Moving To $1,800?

GOLD

Concerns about the U.S. canceling some of China’s debt as punishment for the way they handled the coronavirus problem effected Gold/equity/Dollar prices, was later denied. Gold broke below $1,700, reaching a low of $1,680 per ounce today. The Labor Department reported that initial jobless claims totaled 3.84 million for the week ending April 25, and was a contributing factor in Gold’s decline. This could be the final clean out before Gold moves to $1,800? At 11am PT today, Gold is trading at $1,695, down $25 on excellent volume.

SILVER

Silver fell with the Gold decline, reaching a low of $14.80 before finding bargain buying. Mints are catching up with the backlog on the popular physical Silver investment items. At 11am PT today, Silver is down $0.28 per ounce, trading at $14.98 on excellent volume.