World Mints Work Off Silver Backlog

GOLD

Gold took its first run at $1,850 in early morning Asian trading, reaching a high of $1,848 before seeing some light selling. Gold found support above $1,830 per ounce as the Dollar Index dropped and traders wait for the next move to secure the $1.9 trillion COVID-19 legislation. At 11am PT today, Gold is trading at $1,836, up $3 on average volume.

SILVER

Silver reached a high of $27.77 in European trading while showing excellent support above the key $27 per ounce level. Premiums on the popular Silver investment items are staying high while we wait for many of the world’s largest mints to work off their backlog. At 11 am PT today, Silver is trading at $27.32 per ounce, down $0.10 on normal volume.