Gold hit $1,305 then buyers appeared
Gold hit a low of $1,305 this morning in Asian trading, then, like the four previous times this month, major buyers appeared and drove up the price $10. With the U.S. Dollar, oil, and interest rates moving higher, a stable Gold price is healthy for long term appreciation. In April, the popular Gold ETFs saw a spike in net inflow of Gold bullion. Global Gold-backed ETFs added 72.2 tonnes to their holdings in April. The total for global ETF holdings now stands at 2,481 metric tons. April’s demand was the strongest in more than a year. At 11am PDT today, Gold is trading at $1,314 per ounce, down $3 on excellent volume.
Today, Silver has traded from a low of $16.32 to a high of $16.67. Trading was active worldwide with strong demand for physical investment products. At 11am PDT today, Silver is unchanged, trading at $16.54 per ounce.