Gold And Silver Test Key Support Levels And Move Higher

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	Gold Up As Traders Buy The Early Dip; U.S. Jobs Data Looms
	Gold prices are modestly higher in midday U.S. trading Thursday, as the bulls stepped in to buy the early slight dip in prices . . . . Jim Wyckoff
	This Russian Bank Sold 1 Ton Of Gold In March
	One Russian bank said it sold 1 metric tonne of gold to Russian consumers in March as demand surged . . . . Anna Golubova
	Why Do Investors Purchase Precious Metals During A Financial Crisis?
	Buying precious metals or some specific commodities is a common way for investors who want to defend their portfolios . . . . CM Guest Columnist
	Is Russia Using Gold To Get Around Sanctions?
	It's difficult to see right now whether Russia is using its gold reserves to skirt international sanctions . . . . Hamza Fareed Malik
	Gold, Silver Sharply Up On Safe-Haven Buying, Inflation Worries
	Gold and silver prices are are sharply higher in midday U.S. trading Thursday, as safe-haven demand . . . . Jim Wyckoff

With both the U.S. Dollar and interest rates staying strong, plus the price of crude oil dropping from $110 to $98 in just five days, the Gold price moved lower last week. Gold ended last week at $1,919 per ounce, down $35 on Friday. Last Tuesday, Gold broke below the key $1,900 support level and reached $1,888 per ounce before finding sizeable buying, which took the price back to $1,912 by Tuesday’s close.

Last month’s meeting between Russian and Ukrainian negotiators led to no success and the situation has gotten worse, while more companies and governments continue to put strong sanctions on the Russians. That news combined with higher inflation reported in the U.S., Asia, and Europe should lead to higher precious metal prices. I believe that we may test the key $1,900 per ounce level one more time, but its more likely that the Gold price will go much higher by month's end. My indicators are showing sizeable amounts of precious metal investments (futures, options, equities, mutual funds, and physical Gold/Silver) have been increasing.

Today: Gold reached a low of $1,914 in overnight trading in Asia and Europe, but turned around in late European trading to move back above the $1,930 level. In U.S. trading, demand remains strong for all precious metal investment products.

Silver followed the Gold price lower, testing the important $24 per ounce level before turning around. Silver closed last Friday at $24.60 per ounce, down a sizable $0.96 and near the lows of the week. Since the beginning of the year, Silver has moved above and below the $25 level, as it tries to build a firm base to the $30 level by year-end. The Silver to Gold ratio has moved up to 77.50-to-1, showing last week’s sizeable drop in the Silver price.

Today: Silver continues to search for support today, trading between $24.24 and $24.84 per ounce. Gold has taken over the leadership position in the direction of many precious metals, including Silver.