Gold Above $5,000 Again As Silver Rebounds

GOLD

A very explosive issue is the potential for China to move against Taiwan. Over the weekend, Japan stated very clearly that any action by China against Taiwan would trigger a response from Japan. On these concerns, Gold moved above $5,000 per ounce in India. Gold saw some profit-taking in London, but by the close of London trading, it reached a high of $5,048 per ounce.

At 11 am PT today, gold is trading at $5,064, up by $103 over last week.

SILVER

Silver reached a low of $77.89 in overseas trading last night before major buying emerged, pushing prices to a high of $82.59 per ounce. Trading volume in Silver is improving, and we should no longer see the sharp price drops experienced recently. Investors are now waiting for key economic indicators for clues on the Federal Reserve’s policy direction in the coming months. The Fed closely monitors both the labor market and inflation when setting monetary policy.

At 11 am PT today, silver is trading at $83.17, up by $5.67 over last week.