$2.2 Trillion Aid Package Puts Gold & Silver Back On The Bullish Track

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	Gold Going To $3,000 as U.S. Deficit Rises Sharply As A Percentage Of GDP
	Season factors like quieter summer months could weigh on gold prices in the short-term. . . .Neils Christensen
	Gold Could Skyrocket While Crazy Rise In U.S. Equities Has To End
	In our view the U.S. equities markets are totally delusional. Today saw the biggest rise in jobless claims ever. . . .Lawrie Williams
	Gold Faces Historic Squeeze With Coronavirus Threatening NY Shortage
	The gold market in New York is facing a historic squeeze as the global coronavirus pandemic. . . .Bloomberg
	Gold Supply Fears Push Spot Prices Far Below U.S. Futures
	London spot gold prices fell far below U.S. gold futures on Tuesday in a sign the market. . . .Peter Hobson - Reuters
	The Federal Reserve Just Pledged Asset Purchases With No Limit To Support Markets
	The Federal Reserve announced a barrage of new programs to help keep the market functioning . . . . Jeff Cox
	Gold Gains More Than $80 An Ounce Largest Daily Dollar Climbs On Record
	Gold futures rallied on Monday, sending prices up by more than $80 an ounce, or 5.6%. That marked . . . . Myra P. Saefong

Last week, as the Federal Reserve provided unlimited funds to the equity markets and bank system, and the U.S. Congress passed a $2.2 Trillion aid package, Gold rallied $140 per ounce. Concerns over the increasing number of coronavirus cases and deaths have forced nations around the world to provide medical support, while the same nations have provided unprecedented funding to save their economies. Hopefully, within the next three months, the coronavirus will be in our rearview mirror, but what about the trillions of Dollars, Yen, Yuan and Euros that are being printed and given away? This government action of giveaways will have a dramatic effect on precious metal prices. At that time, market analysts will provide a revised estimate of U.S. and world debt, and it will be scary. Right now, we have an extraordinary opportunity to protect our assets by adding to our Gold and Silver holdings at a fair price.

Last Friday, Gold closed at $1,624 per ounce, up $140 for the week, and only $66 below its 2020 high. After the strong volatility in the recent Gold price, it would be good for Gold to build a base above the $1,600 level for a short period. While supplies of popular Gold investment items are very low, the premiums have increased. During the week, there was a London short squeeze on Gold supplies causing a physical shortage of Gold. This temporarily drove the COMEX spot Gold price to move higher for immediate delivery.

Today: In early Asian trading this morning the Chinese Central Bank cut their interest rates and injected $7.1 Billion into their markets. Gold traded today between $1,614 and $1,650 as investors around the globe take new positions to protect their assets in the future.

The Silver price bounced back last week, increasing $2.15 per ounce, closing at $14.51. Wow, that’s a 17% increase from the lows in just one week. After hitting a 12-year low of $11.60 on March 18th, Silver has a long way to go to get back to its 2020 high of $18.90 per ounce. Right now, I would like to see Silver establish a firm base above $14 per ounce. However, if the Gold price moves above $1,650, Silver should move above the $15 per ounce, its current resistance level.

Many popular physical Silver investment products are in short supply, as many of the world’s mints are backordered or closed. The Canadian mint announced it was closed. Premiums on 1 ounce .999 Silver Eagles, Maple Leaf, Trade Units, as well as junk 90% U.S. Silver coins, have increased but are still available.

Today: This morning, Silver hit a high of $14.70, followed by reaching a low of $13.90. At the low we saw bargain buying, taking it back above the $14 level.