Gold Finds Excellent Demand Above The $1,770 Level

GOLD

Gold broke out above the $1,780 level in Asian trading overnight, but couldn’t hold as it moved into Europe. Gold is finding excellent demand above the $1,770 level and resistance at the $1,780 level as we roll into this long holiday weekend. At 11am PT today, Gold is trading at $1,775, up $5 on average volume.

SILVER

Silver did reach a high of $26.47 before seeing short-term selling, which took the price down to test the $26 support level. With the limited supply of many popular 2021 U.S. Mint and foreign minted Silver investment coins, I do expect to see premiums remaining strong. At 11am PT today, Silver is down $0.05 per ounce, trading at $26.03 on normal volume.