Gold Shows Increasing Demand Near The Lows

GOLD

With the GDP declining 4.8% for the first quarter of 2020, Gold initially fall off, but found immediate support above $1,700 per ounce. Gold is showing a lot of increasing demand near the lows, so I believe we will have a rally back to $1,750 within the next week. At 11am PT today, Gold is trading at $1,715 per ounce, down $5 on average volume.

SILVER

Silver appears to excellent demand above $15.25 per ounce, and is behaving better then Gold, and that hasn’t happened in a while. When we get the Gold breakout, I think Silver will see $16 again. At 11am PT today, silver is up $0.06 per ounce, trading at $15.31 on excellent volume.