Gold Back On Track To $1,600 Resistance Level

GOLD

Gold reached a high of $1,588 per ounce during early Asian trading, before seeing some light profit taking in European and U.S. trading this morning.
Some analysts believe that the Gold rise is partially caused by Coronavirus fears, as the virus continued to spread beyond China, adding to investors’ concerns about a global health emergency that could disrupt the world’s economy.
Gold is back on track to reach the important $1,600 resistance level. At 11am PT today, Gold is trading at $1,578 per ounce, up $6 on active volume.

SILVER

This morning the Silver price is moving hand-and-hand with the Gold price.
Silver reached a high of $18.32 earlier in the trading day.
During U.S. trading Silver sold off with Gold and the equity markets.
At 11am PT today, Silver is down $0.03 per ounce, trading at $18.07 on average volume.