Make Way For Gold To Build A Base

GOLD

2020 has started with major volatility in the precious metal markets. Gold started the year at $1,519 per ounce and reached a 7-year high of $1,611, in just 5 trading days. Hopefully, the Iranian crisis is behind us and Gold should start building a base above the $1,540 level. At 11am PT today, Gold is trading at $1,553 per ounce, down $13 on active volume.

SILVER

In 2020 Silver moved from $17.83 to a high of $18.80 per ounce in the same 5 trading days. After reaching the $18.80 high on extraordinary volatility and trading volume in early Wednesday trading, Silver fall dramatically. Silver hit a low today of $17.80 after Trump's speech yesterday which lessened tensions with the Iranian government. At 11am PT today, Silver is down $0.21 per ounce, trading at $17.92 on good volume.