Gold Appears To Be Establishing A Trading Range

GOLD

The London short squeeze seems to be ending as the price differential is tightening down. Gold appears to be establishing a trading range between $1,610 and $1,650 per ounce. Premiums are holding because of the strong demand and limited supplies; many dealers are closed because of the “Stay at Home” COVID-19 orders. At 11am PT today, Gold is trading at $1,635 per ounce, down $17 on normal volume.

SILVER

Silver traded today between $14.25 and $14.75 per ounce, as demand continues to be strong. Physical supplies of the popular Silver investment coins continue to be thin, with higher premiums. At 11am PT today, Silver is down $0.20 per ounce, trading at $14.51 on normal volume.