Gold Moving Higher And Setting New Six-Month Highs

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	Coin Market Roars into New Year
	They say March can go in like a lion and go out as a lamb, or the other way around. . . Richard Giedroyc
	Inflation Is Here. Why Isn’t Gold $3,000 an Ounce Yet?
	It seems like a frustrating time to make decisions on precious metals. So many people want to buy and sell precious metals and aren’t sure what to do. Should they wait? Buy now? . . . .Joshua Hernandez
	Gold Surges To 6-Month High, And Analysts Expect Records In 2023
	Gold prices have been on a general incline since the beginning of November . . . . Elliot Smith
	Central Banks Are Scooping Up Gold At The Fastest Pace Since 1967
	The data today is the usual Thursday jobless claims. Some analysts try to make gold out of this straw, but to little influence. . . .Barbara Rockefeller
	Gold in 2023
	This is the time of year when precious metal analysts review the year past and make predictions for the year ahead. . . .Alasdair Macleod
	The Case For Silver
	Silver, like gold, is a precious metal that offers investors protection during times of economic and political uncertainty. . . . Rick Mills

Great Articles Above.

I strongly recommend taking the time to read Gold in 2023 and The Case for Silver.
Both of these are excellent research articles to give you an exceptional understanding of what is motivating bullish activity in the world’s Gold and Silver markets.

Last Wednesday, the Federal Reserve released minutes of the past meeting. The Fed was focusing on the jobs’ data rising volatility. On that news, the Gold price rallied $13 per ounce, breaking above the key $1,850 resistance level

On Friday, the U.S. Department of Labor reported U.S. Payrolls grew 223,000 jobs in December. That’s a slower pace than November’s 256,000 gain, but still beating the Dow Jones estimate of 200,000. The unemployment rate dropped to 3.5%, 0.2 percentage points below expectations. On this news, Gold rallied $30 per ounce, to a six-month high. Gold closed the week at $1,866, up $40 for the week.

It has been made clear during the past two months that Gold is back on a bullish track. During that time, Gold has continually shown excellent demand above key resistance levels. Also, the U.S. Dollar and interest rates have traded in a narrow range. The next resistance levels for Gold are $1,878 and $1,900 per ounce, with major support above $1,850 per ounce. It’s highly probable that Gold will test those levels this month.

Today: This morning, Gold reached an eight-month high of $1,882 per ounce, as the dollar moved lower. Many investors increasingly anticipated a slowdown in the Federal Reserve’s interest rate policy. Fed Chairman Jerome Powell is scheduled to speak Tuesday in Stockholm.

Even with Gold moving higher, Silver continued to trade above and below the key $24 resistance and support level. During the past two months, Silver has had a higher percentage increase than Gold. But last week with Gold up $40, Silver continued to show massive overhead resistance. Last Friday, Silver closed at $23.90 per ounce, down $0.06 for the week.

Today: As Gold moves higher, Silver continues to trade above and below the key $24 per ounce level.
Demand for physical Silver investment products is picking with premiums dropping.