Gold & Silver Hitting New Highs

GOLD

After reaching a high of $1,451 per ounce in late trading yesterday, Gold is showing some profit taking today. This is the highest price for Gold since 2013, and I expect to see some consolidation followed by a move to $1,500 per ounce. At 11am PT today, Gold is trading at $1,425 per ounce, down $5 on excellent volume.

SILVER

Silver went ballistic in late trading yesterday, reaching a high of $16.55 per ounce. This was a new 2019 high and today there was serious profit taking and short-selling. For the long and short term health of the Silver price, Silver needs to build a base above $16 per ounce for a week or more. At 11am PT today, Silver is down $0.03 per ounce, trading at $16.14 on excellent volume.