Metal Markets Move Higher On Election Results

GOLD

It appears as Joe Biden moves closer to becoming our next president, the precious metal markets move higher. In overnight trading, the price of Gold traded from a low of $1,935 to a high of $1,961 per ounce. Remember, $1,950 is a key support/resistance level, so a confirmed close today and Monday over $1,950 would be highly bullish for our year-end goal of over $2,000. At 11 am PT today, Gold is trading at $1,951 per ounce, up $4 on good volume.

SILVER

Silver tested the new $25 level in overnight trading, briefly trading at $24.95 per ounce. As we rolled into European trading and presidential election results were provided, Silver rallied. Silver reached a high of $25.93 before seeing some selling. At 11am PT today, silver is up $0.46 per ounce, trading at $25.51 on excellent volume.