Precious Metals Rallying After Russian Sanctions

GOLD

This morning the Russian sanctions are taking hold, as the Russian ruble drops 30% and oil prices are moving toward $100 per barrel. Gold, Silver, and Palladium have rallied as interest rates move lower. Gold has traded today between $1,891 and $1,919 per ounce. At 11am PT today, Gold is up $12 per ounce, at $1,902 on active volume.

SILVER

As the Russian/Ukrainian war continues, demand for safe haven assets is increasing. Silver firmly moved over $24 this morning, reaching a high of $24.66 before seeing light profit taking. Silver has traded today between $24.18 and $24.66, showing excellent demand. At 11am PT today, Silver is up $0.29 per ounce at $24.45 on excellent volume.