Oil & Precious Metals Moving Substantially Higher

GOLD

As the Russian/Ukrainian war worsens, the financial markets are reacting to the developments. Equities and interest rates (10-Year reached 1.68%) are dropping, while oil and precious metal prices are moving substantially higher. Gold broke above the key $1,920 level earlier today and kept on moving higher on heavy demand, reaching a high of $1,944 before seeing light profit-taking. At 11am PT Today, Gold is trading at $1,946 per ounce, up $44 on excellent volume.

SILVER

When Gold broke above $1,920, the Silver price exposed, quickly jumping above the $25 per ounce major resistance level. At that point many of the professional commodity traders quickly covered short-sales and Silver jumped $0.20 in less than 5 minutes. Today’s increase in the Silver price is double the percentage surge in the Gold price, which proves how explosive Silver can be. At 11am PT today, Silver is trading at $25.54 per ounce, up an unbelievable $1.09 on strong volume.