GOLD AND SILVER HIT NEW HIGH PRICES

GOLD

Over the weekend a helicopter carrying Iranian President Ebrahim Raisi and his foreign minister crashed amid bad weather conditions and they are reported to have been killed. Losing the Iranian leadership has thrown the status of the Israeli war into chaos. I’ll bet the CIA’s intelligence group is busy today determining how it will affect Iran’s policy in regard to Israel. Gold rallied to $2,450 per ounce on this news and later saw heavy selling.
At 11am PT today, Gold is trading at $2433, up $18 from Friday.

SILVER

Silver also reacted to the death of the Iranian President by breaking above the $32 level and reacting a high o $32.57 before seeing heavy profit taking. Silver needs to show strong price support above $30 per ounce at least to the end of May to stay bullish.
At 11am PT today, Silver is up $1.05, trading at $32.19.