Silver Price Jumps 4.5%

GOLD

Gold moved back above the key $1,900 resistance level this morning and kept on going. Gold reached a high of $1,930 before seeing some short-term profit-taking. A weaker U.S. Dollar Index combined with renewed talks of a COVID-19 multitrillion-dollar stimulus package talks caused the rally. At 11 am PT today, Gold is trading at $1,923 per ounce, up $31 on excellent volume.

SILVER

Wow! The U.S. Dollar Index drops half a percent and the Silver price jumps 4.5%...that shows the explosive nature of Silver! Silver reached a high of $25.16 before seeing light selling. A firm close above $24.75 today is a breakout and puts Silver back on a bullish track. I still believe that when Gold moves back above $2,000 this month, Silver should be on the way to $30 per ounce. At 11 am PT today, Silver is up $1.12 per ounce, trading at $24.95 on excellent volume.