Gold Found A Bottom After Ukrainian Sales Ended

CLICK HERE FOR NEW Morgan Silver Dollars

CLICK HERE FOR NEW Peace Silver Dollars

CLICK HERE FOR NEW $20 Gold Saint Gaudens

	What The Heck Is Happening to Silver?!
	The dollar rose this week, from 17.87mg gold to 18.24mg (that’s “gold fell from $1,740 to $1,705” in DollarSpeak), a gain of 2.1%. . . . Keith Weiner
	Ukraine Central Bank Sells Over $12 Billion Of Its Gold During War
	Ukraine's central bank has sold $12.4 billion of gold reserves . . . . Max Hunder/ Reuters
	The Worst Bear Market In My Lifetime
	With the S&P 500 down about 21% year-to-date, the situation for stocks is pretty grim — but according to legendary investor Jim Rogers, it’s just the start. . . . Jim Rogers
	Inflation Will Remain High Until 2026
	Reagan’s former economic advisor, Arthur Laffer, expects inflation to continue to accelerate, and to be well outside of the preferred range of 2 percent until 2026. . . . Michelle Makori
	Inflation Exceeds 9%, But It’s Still Not Enough For Gold
	The inflation rate accelerated again. It implies a more hawkish Fed and is bad for gold in the short-run, but good in the long-term. . . . Arkadiusz Sieroń

Last Thursday morning, during European trading, Gold reached a low of $1,678 per ounce. This is the lowest level Gold has reached since March 3rd, 2021, when it reached $1,673. Based on conversations with London commodity traders, this low appears to have been reached as the Ukrainian Central Bank finished selling its 27 metric ton Gold reserves. After this sell-off, Gold started moving higher in late Thursday trading and all day last Friday. Gold closed the week at $1,727 per ounce, up $23 on the week, and the first weekly gain in six weeks. A weaker U.S. Dollar and lower interest rates also contributed to the Gold price moving higher on Friday.

As soaring costs of goods and services in Europe are driving up their inflation rates, the European Central Bank has announced an increase in government interest rates last week. One of the primary reasons the U.S. Dollar continues to trade near a 20-year high is, although our inflation rates have been around 9%, many countries in Europe have much higher rates and major shortages of energy and food products.

Today: Gold is stuck in a tight trading range as traders wait for this week’s Federal Reserve statements and news conference, hopefully the last increase in the Fed Funds rate. The U.S. Dollar and 10-Year interest rates are trading lower, which should give Gold a bullish environment.

Silver started last week strong, but then saw selling when Gold set a new 2022 low on Thursday. Silver showed excellent demand closing above $18.60 per ounce all five trading days last week. Silver closed last Friday at $18.61, up only $0.02 per ounce for the week. If the Gold price can stay above $1,720, I look to see Silver move back over $19 to regain bullish sentiment
with commodity traders. The current Silver to Gold ratio is at an amazing 93-to-1. Anything over 60-to-1, the price of Silver is undervalued.

Today: Silver reached a low this morning of $18.31 before seeing bargain buying, driving the price back over the $18.50 support level. Premiums on many of the popular Silver bullion investment coins and bars remine high as demand is strong.