Measures Likely Needed To Pull Economy Out Of Its Coronavirus Driven Nosedive

Measures Likely Needed To Pull Economy Out Of Its Coronavirus Driven Nosedive

GOLD

Gold jumped $6 this morning as Fed Chairman Powell indicated that there will be more measures likely needed to pull the economy out of its coronavirus driven nosedive. Powell told reporters in a subsequent Q&A that the Fed was not considering negative interest rates. At 11am PT today, Gold is trading at $1,716 per ounce, up $8 on normal volume.

SILVER

Silver continues to show excellent support above the key $15.50 per ounce level. What was disappointing about Silver trading today, was that Silver didn’t move higher when Gold rallied. At 11am PT today, Silver is down $0.04 per ounce, trading at $15.54 on average volume.

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