Ukraine Central Bank has Sold all of its Gold

GOLD

From talking to traders in London, it appears that the Ukraine Central bank has sold all of its Gold and is out of the market.
That appears to be a major factor driving the Gold price to reach its 2022 low of $1,678 per ounce Thursday morning. Gold has been moving higher since Thursday’s European trading. A weaker U.S. Dollar and lower interest rates is also helping the bulls this morning, moving Gold to a high of $1,736 per ounce. At 11am PT, Gold is trading at $1,728 per ounce, up $15 on good volume.

SILVER

Silver moved higher this morning, as the Gold price rallied, reaching a high of $19.05 before seeing selling. As Silver trading moved into the U.S. there was some selling, which is surprising considering that Gold price is higher. At 11am PT, Silver id down $0.10 per ounce, trading at $18.70 on average volume.