Gold Building A Firm Base Over $2,750 Per Ounce

GOLD

After reaching a low of $2,734 in overnight trading, Gold looks to be building a firm base above the key $2,750 per ounce level. As Gold continues to stay above $2,750 per ounce, we will see the first attempt to break the all-time high of $2,790 per ounce soon. In addition to the concerns over Trump’s future polices, a weaker U.S. Dollar has been helpful to create strong demand for physical Gold.

At 11am PT today, Gold is trading at $2756, down just $1 from yesterday.

SILVER

Right now Silver is not showing the price support I was hoping to see. Silver tested the $30 support level this morning, when Gold was at its lows. I would expect to see Silver stay above $30 per ounce and move toward $31 again shortly, especially with a strong Gold price.

At 11am PT today, Silver is down by $0.43 today, trading at $30.47.