Gold Trades Above Key Level Despite West Point Mint News

GOLD

Just as premiums on bullion coins were starting to drop comes the announcement that the West Point Mint is closing down because the risk of COVID-19. The West Point Mint produces popular Gold, Silver, Platinum, and Palladium bullion eagle coins. During the first two weeks of April they minted 56,500 1 oz Gold Eagles, a 465% increase over last year. Gold continues to trade above the key $1,700 per ounce level, with some light profit taking. At 11am PT today, Gold is trading at $1,724, down $7 on average volume.

SILVER

The Silver price has shown excellent support above the $15.40 level. Premiums on popular Silver investment items are holding firm and future term supplies are questionable. At 11am PT today, Silver is up $0.02 per ounce, at $15.54 on average volume.