Gold And Silver Rallying On Fresh Demand

GOLD

Today we saw the Producer Price Index (PPI) was up 0.3% in October, a little higher than what was projected. The inflation rate still remains low at 1.1% for this year. Coronavirus infections are increasing to record high levels around the world, causing economies to close down. Precious metal markets are reacting, with Gold and Silver rallying on fresh demand. At 11 am, gold is trading at $1,887 per ounce, up $9.50 on normal volume.

SILVER

Silver is showing increasing demand at the current price level. Silver traded between $24.50 and $24.90 per ounce today. At 11am PT today, Silver is up $0.34 per ounce, trading at $24.65 on strong volume.