Silver Explodes And Trades On Extraordinary Volume

GOLD

As Congress gets closer and closer to agreeing on the next $2-$3 trillion COVID-19 stimulus aid legislation, the price of Gold/Silver move higher. Gold made a new 9 year high today, reaching $1,844 per ounce before seeing light selling. At 11am PT today, Gold is trading up $27 per ounce, at $1,842 on excellent volume.

SILVER

Silver exploded today, breaking above both the $20 and $21 per ounce resistance level on heavy volume. Trading volume was the highest it has been since March 2020, when Silver dropped by $12, with over 100,000 five thousand ounces contracts. I would like to see Silver pull back into the $20+ level, giving it an opportunity to consolidate recent gains. At 11am PT today, Silver is up $1.40 per ounce, trading at $21.18 on extraordinary volume.