Gold/Silver Mining Stocks and ETFs Rally

GOLD

Based on reports out of Europe that the coronavirus second wave is heating up, the U.S. dollar rallied again this morning. But, in the face of that report, the Gold price found support in Asia, Europe, and the U.S and tested the key $1,900 level and held. Another positive indicator is that Gold/Silver mining stocks and ETFs have started to rally. If we can finish out the week above $1,900 per ounce, I believe the rally will continue back above the $2,000 level. At 11 am PT today, Gold is trading at $1,904 per ounce down $5 on active volume.

SILVER

Silver temporarily broke below the $24 support level this morning in Asian markets, reaching a low of $23.82 before finding bargain buyers. As the Silver market moved into Europe and the U.S. markets, it rallied back above the key $24 level. At 11 am PT today, Silver is down $0.10 per ounce, trading at $24.45 on strong volume.