Gold Moves Back On A Weaker Dollar

GOLD

Gold moved back above the key $1,950 this morning on a weaker dollar and reports of a low U.S. jobs number. This will give the Federal Reserve the ability to provide more stimulus to help with the negative economic effects of the COVID-19 pandemic. At 11 am PT today, Gold is up $9 per ounce, trading at $1,954 per ounce on average volume.

SILVER

Silver reached a high of $27.21 this morning, but couldn’t hold the important $27 per ounce resistance/support level. Silver saw some light weekend selling that drove it below the key level. At 11 am PT today, Silver is trading at $26.90 per ounce, down $0.05 on average volume.