Gold & Silver Both Remain Flat, Awaiting Stimulus News

GOLD

The feeling in the U.S. financial markets is that “we aren’t getting stimulus soon”. The Gold price continues to react to that feeling. Until we see a Federal Reserve or Congressional stimulus plan on the horizon, Gold is lacking the incentive for fresh buying to take it to new highs. Gold, for the seventh time in the past three months tested the $1,850 level last night and held. At the current price, Gold is cheap and offers an excellent opportunity to add to your holdings, as I expect an explosion in the Gold price in early 2021 when the stimulus is announced. At 11am PT today, Gold is trading at $1,865 per ounce, down $8 on light volume.

SILVER

With today’s weakness in the Gold price, Silver broke down below the key $24 per ounce level, reaching a low of $23.60. At that price, I saw fresh buying taking it back above the $24 level in Europe and U.S. markets. At 11am PT today, Silver is down $0.30 per ounce, trading at $24.05 on good volume.