Stimulus Bill News And Strong Dollar Drive Down Price

GOLD

Negative news on the progress of a Congressional COVID-19 stimulus bill, plus a stronger U.S. dollar drove the price of Gold down to $1,830 this morning. I would like to see a move back above $1,850 by Friday to keep the short-term direction positive. At 11 am PT today, Gold is trading at $1,832 per ounce, down $39 on strong volume.

SILVER

The Silver price broke down below the key $24 level this morning, reaching a low of $23.65 before finding bargain buyers. Today’s weakness in Gold was the key factor in Silver's decline. At 11 am PT today, Silver is trading at $23.76, down $0.90 on strong volume.