Gold Prepares For The Move To $1,900

GOLD

Gold has traded today between $1,850 and $1,870 per ounce as it builds support for the next move to $1,900 per ounce. French President Macron's suggestion at the G-7 meeting to sell Gold to bail out African nations caused a short sell-off in European markets (see article). After reaching $1,850 per ounce, buyers got aggressive and the market started moving up. At 11am PT today, Gold is trading at $1,857 per ounce, down $7 on normal volume.

SILVER

Silver reacted with Gold and reached a low of $27.35 before seeing professional traders step in and buy. Popularity of the many physical Silver investment products continues to grow and drive-up premiums. At 11am PT today, Silver is down $0.29 per ounce, trading at $27.60 on average volume.