Gold And Silver Holding Over Key Levels

GOLD

Gold prices are up this morning following rumors that Donald Trump was considering firing Fed Chairman Powell. The price settled down from its $50 gain after Trump announced that he has no immediate intention of firing the Fed Chairman. The Gold price showed little reaction to the PPI report release this morning. Analysts speculate that the Gold price will need a catalyst to re-inspire Gold’s rally, though it remains well supported above the $3,300 level, buoyed by both Central Bank buying and safe-haven buying in light of the current geo-political climate and President Trump’s continued tariff threats.

At 11 am PT today, Gold is trading at $3,355, up $26 mid-week.

SILVER

Silver has moved with Gold this morning, the price of the white metal up on the rumors surrounding Trump’s frustration with Federal Reserve Chairman Powell and on a softer dollar. The Silver price has been on the rise this week with recent gains attracting precious metal investors as the Silver supply becomes more limited and the Gold price continues to rise.

At 11 am PT today, Silver is trading at $37.92, up $0.10.