GOLD Above $3,550 & Silver Moves Over $41

GOLD

The U.S. Labor Department reported today that July job openings dropped sharply to 7.18 million, down from June’s reading of 7.36 million. The number of available jobs has dropped to its lowest level since March 2021. Demand for gold continues to be strong from central banks, financial institutions, and private investors. Gold should trade around the $3,550 level for a week or so, while it builds the base to break above $3,600 later this month.

At 11am PT today, Gold is trading at $3,575 per ounce, up $49 on outstanding volume.

SILVER

The increase in the silver price doesn’t want to stop. Silver soared above the $41 per ounce level this morning on the July job drop data. Silver reached a high of $41.51 per ounce before seeing little profit-taking.

At 11am PT today, Silver is up $0.50 per ounce, at $41.30 on excellent demand.