Renewed Hope For A Stimulus Package Help Gold Rally

GOLD

Renewed hopes for a coronavirus stimulus package from Congress helped Gold rally this morning. Secretary Mnuchin announced a meeting this coming week with Democratic and Republican leaders to discuss all the options and come to an agreement. Gold initially increased to $1,880 but saw a small selloff. At 11 am PT today, Gold is trading at $1,874, up $9 per ounce on average volume.

SILVER

Concerns that lending programs from the Federal Reserve will expire on December 31, is also causing potential problems with an economic recovery in the U.S. This is putting pressure on the Silver price until the Fed and Congress provide a stimulus to help the millions of businesses that are feeling the pain of this pandemic. At 11 am PT today, Silver is up $0.25 per ounce, at $24.30 on normal volume.