Gold Rallies and Silver Finds Support

GOLD

Democrats in the house are quickly moving on President Biden’s $1.9 trillion COVID-19 stimulus legislation, with the hope of a floor vote by month-end, combined with a weaker dollar has caused Gold to rally $20. I’m looking for Gold to move above the important $1,850 level by the weekend. At 11 am PT today, Gold is trading at $1,833 per ounce, up $20 on good volume.

SILVER

After last week’s crazy volatility, Silver seems to have found support above the key $27 per ounce level. Additionally, the Silver-to-Gold ratio continues to look better and better, as inflation concerns are hitting the news. At 11 am PT today, Silver is up $0.48 per ounce, trading at $27.42 on excellent volume.