The Gold Price Is Strong And On Its Way To $2,000

GOLD

I have said numerous times in the past that the Gold price could be very explosive and the past week has proved it. Gold has increased over $130 in the past week (up 7%) in the face of higher interest rates and a strong U.S. Dollar. Concerns about a multi-front war in the Middle East is driving both Central Banks and investors to get aggressive in buying Gold. Gold continues to prove that it’s the best and most popular safe-haven investment in time on uncertainty. This morning Gold reached a high of $1,997 before seeing weekend profit taking. At 11am PT Today, Gold is up $12 per ounce, trading at $1,983 on strong volume.

SILVER

Silver finally broke above the $23 resistance level this morning when Gold was over $1,990. Silver reached a high of $23.70 before seeing short-term profit-taking. Staying above the $23 level is important for Silver and should stay there in the light of the strong Gold price. At 11am PT today, Silver is trading at $23.40 per ounce, up $0.50 on excellent volume.