Gold Spikes To $1,976 Following Russian Invasion

GOLD

Recently, clients have asked me “How will the Gold price behave if a war breaks out in Europe”. Well, we now know. Leading up to this war, Gold moved from $1,850 to over $1,900. After the invasion was confirmed last night, Gold spiked up to an emotional panic high of $1,976 per ounce on Asian and European trading. When Gold opened trading in the U.S. market, sellers appeared and the price calmed down and quickly sold off. At 11am PT today, Gold is trading higher at $1,923, up $11 on heavy volume.

SILVER

Silver rallied up with Gold last night, quickly moving to $25.71 per ounce and seeing sizeable selling. However, after opening in the U.S. markets, Silver couldn’t hold the key $25 per ounce level and sold off. At 11am PT today, Silver is trading at $24.60 per ounce, down $0.06 on excellent volume.