Gold and Silver Drop

GOLD

We are seeing a worldwide liquidity issue, as financial markets suffer through a turmoil caused by concerns about future economic problems caused by the coronavirus. Gold reached a low of $1570 this morning as a reaction to liquidity problems. At 11am PT today, Gold is trading at $1,574 per ounce, down $71 on the day on high volume.

SILVER

The Silver price dropped with Gold reaching a low of $16.50 before finding support and bargain buyers. An extraordinary week causing high volatility in the precious metal markets by concerns about the effects of the coronavirus on the world economy. Wow, Silver almost reached $19 on Monday, falling to $16.50 per ounce this morning. At 11am PT today, Silver is trading at $16.54 per ounce, down over $1.21 per ounce on high volume.