Long Weekend and the Effects on Gold

Long Weekend and the Effects on Gold

Daily Market Report - 06/21/22

GOLD

As many of the financial market moved higher today, Gold found good support at the $1,834 level and reached a high of $1,846 per ounce. During the long Holiday weekend Gold traded in a narrow range around the $1,840 level. I’m seeing demand for many of the popular Gold bullion coins pickup as many Bitcoin buyers switch back to Gold. At 11am PT today, Gold is trading at $1,835 per ounce, down $4 on average volume.

SILVER

During the long weekend Silver attempted to break the key $22 per ounce resistance but was unable. Right now, it appears that Silver is trading in a $21.50 to $22 range as it waits for direction from Gold. At 11am PT today, Silver is up $0.08 per ounce, trading at $21.73 on normal volume.

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