Gold Showing Excellent Support After Equity Sell Offs

GOLD

Gold reached a high of $1,844 in early morning trading before seeing heavy selling in everything (equities, Bitcoin, and Silver). Gold is showing excellent support above the $1,830 level as investors move out of the equity and Bitcoin market. Gold has continued to rally in the face of a falling equity market. At 11am PT today, Gold is trading at $1,845 per ounce, up $9 on excellent volume.

SILVER

Silver took a hit today, dropping below the $24 per ounce level. Silver found excellent support above the $23.50 level as bargain buying appeared. Physical demand for many of the popular new Silver investment quality coins strengthens as the 2022 products hit the markets. Silver has moved off today’s low, as we see excellent demand at the current price level. At 11am PT today, Silver is trading at $23.97 per ounce, down $0.46 on strong volume.