European Central Bank To Keep Their COVID-19 Stimulus Policies In Place

GOLD

Gold rallied this morning on a weaker U.S. dollar and news from the European Central Bank that they will keep their COVID-19 stimulus policies in place. Traders are also expecting the U.S. jobless claims data due out tomorrow to be negative. Gold broke above the key $1,950 resistance level and kept on running to reach a high of $1,967 before seeing some short-term profit taking. At 11 am PT today, Gold is trading at $1,956, up $9 on good volume.

SILVER

As Gold rallied, Silver had a difficult time moving over the key $27 resistance level, but finally did, reaching a high of $27.57 per ounce. For most of the trading day, Silver has been trading above and below the $27 level. At 11 am PT today, Silver is up $0.18 per ounce, trading at $27.07 on average volume.