Silver Attempts To Break Above Key Resistance Level

GOLD

Gold is definitely not the lead precious metal, as Silver sold off today, the Gold price reached a low of $1,829 before finding strong support. I believe, barring Silver breaking down below $25, Gold should find its way back above $1,850 soon, even in the face of a strong U.S. Dollar Index (over 91). At 11 am PT today, Gold is trading at $1,837 per ounce, down $21 on excellent volume.

SILVER

What a week Silver is having, it has gone from a high of $30.32 yesterday, to a low of $25.73 this morning. Now that is a definition of volatility, and the second attempt for Silver to break $30. As I have said numerous times, it normally takes three attempts for precious metals to break above a key resistance level. So, based on what Congress ultimately does on the next COVID-19 stimulus legislation, it could be coming very soon. At 11 am PT today, Silver is down $2.25 per ounce, trading at $26.65 per ounce on extraordinary volume.