COVID-19 Concerns Cause Drop In Equity Markets

GOLD

Concerns that our economy will suffer from another round of COVID-19 infections has driven the equity markets lower and the U.S. Dollar Index higher today. Gold briefly broke major support at $1,800 in overnight trading, but rallied back on heavy buying. At 11am PT today, Gold is trading at $1,808 per ounce, down $7 on strong volume.

SILVER

Silver, which dropped $0.56 last Friday, saw another correction of $0.75 in early trading, below the key $25 level. Silver found strong support at that level and rallied back $0.20 per ounce. At 11am PT today, Silver is down $0.65 per ounce, trading at $25.10 on high volume.