Goldman Sachs New Gold Target for end of 2022

GOLD

Gold trading is like a normal summer week before a holiday, very light with narrow $9 spread between the high of lows of the day. Gold has found support above $1,820 as it builds a base for the next move to the $1,850 resistance level. For today’s good news, Goldman Sachs raised its Gold target for year-end 2022 to $2,500 per ounce. At 11am PT today, Gold is trading at $1,822 per ounce, down $3 on light volume.

SILVER

The Silver price continues to trade above and below the $21 level on light trading volume. Today, Silver couldn’t hold the $21 level and reached a low of $20.80 before seeing bargain buyers. At 11am Today, Silver is down $0.30 per ounce, trading at $20.90 on average volume.