Gold & Silver Setting New Highs On Strong Demand

GOLD

The buying keeps coming worldwide as Gold reached another all-time high of $2,872 per ounce. Whether it be Elon Musk or President Trump, every press conference, announcement, or media coverage, it just keeps adding to the chaos and concerns for investors worldwide. The Gold price is behaving like a real safe haven investment and more and more investors and financial institutions are adding to their holdings. It would be healthy for Gold to slow down and build a base above $2,800 for the next leg higher to $3,000 per ounce.

At 11am PT today, Gold is trading at $2863, up $20 from Tuesday.

SILVER

Silver is finding excellent price support above $32.00 and reached a high of $32.59 before seeing some short-term profit-taking. On a percentage basis, Silver has been outperforming Gold recently. My target is still $35 per ounce as Gold reaches the $3,000 level.

At 11am PT today, Silver is trading at 32.31, down just $0.02 from yesterday.