Gold Gaining More Interest Above Bitcoin

GOLD

Gold traded between $1,807 and $1,825 in all the major global commodity markets today, as it continues to build a base above $1,800 per ounce. This is bullish considering the strong U.S. Dollar and our Federal Reserve’s policy to reduce inflation by raising interest rates. Also, with the equity, Bond and Bitcoin markets moving lower, we are seeing more interest in gold. At 11am PT today, Gold is trading at $1,818 per ounce, down $2 on average volume.

SILVER

Silver saw some early morning selling in Europe, driving the price down to $21.36, below the recent support level of $21.50. Silver rallied back with gold as trading moved to the U.S. markets. At 11am PT today, Silver is down $0.27, trading at $21.47 on normal volume.