Markets React To President Biden's Tax Plan

GOLD

Gold reached a high of $1,797 per ounce this morning as details of President Biden's tax plan was released. This plan would raise capital-gains, which caused a decline in equities and an increase in demand for precious metals. In later trading I saw weekend profit taking driving the Gold price down to $1,770. At 11am PT today, Gold is trading at $1,777 per ounce, down $6 on average volume.

SILVER

Silver is holding above the key $26 level, after reaching $25.79 in early trading. Demand for popular Silver investment products continues to grow as well as the premiums and availability. At 11am PT today, Silver is down $0.12 per ounce, trading at $26.08 on normal volume.