Investors Around The World Digest Fed Chairman Powell’s Comments

GOLD

Investors around the world had a chance to digest Fed Chairman Powell’s comments yesterday and they increase their precious metal demand. Chairman Powell indicated that our Fed would likely take more measures to pull the economy out of the coronavirus nosedive. This combined with many of the world’s leading economists projecting a longer recovery period is increasing the reason to have safe haven investments, GOLD. At 11am PT Today, Gold trading at $1,735, up $19 on good volume.

SILVER

Silver finally took off with Gold, reaching a high of $15.95 per ounce before seeing some short-term profit taking. If the Gold price remains strong, I believe we should see Silver make its first attempt to break the $16 resistance level very soon. At 11am PT today, Silver is up $0.35 per ounce, trading at $15.89 on excellent volume.