Gold Rising Due To New Crypto Regulations

GOLD

The U.S. Dollar and interest rates haven’t dropped today, but the Gold bulls are back, sending the price to over $1,780 per ounce on excellent volume. Why? The Biden administration just unveiled new sanctions against the cryptocurrency exchanges, because of illegal payments from ransomware attacks. Bitcoin has dropped over 15% since yesterday on this news. Gold is trading at $1779, up $13 per ounce on excellent volume.

SILVER

Silver followed Gold higher this morning, reaching a high of $22.82 before seeing some light profit taking. We are starting to see shortages on many of the popular Silver and Gold American investment products, which probably means premiums will start to rise. At 11am PT today, Silver is up $0.32 per ounce, trading at $22.66 on good volume.