Gold Moving Over The Key $1,600 Per Ounce Resistance Level

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	Global Silver Market Forecast to Shine in 2020
	The Silver Institute believes that macroeconomic and geopolitical conditions. . . .The Silver Institute
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	The U.S. Department of Justice investigation of criminal activity in the precious metals. . . .Clint Siegner
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	The current economic scenario is difficult and uncertain. Even though the US stocks are hitting new all-time highs. . . .Vikas Shukla
	Coronavirus Cure: Print More Money
	A few days ago the market was crashing on Coronavirus fears. But recently, the market has soared back. . . .Michael Pento
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	Silver is expected to begin the 2020s newly burnished, through a combination. . . .Richard "Rick" Mills -Investorideas.com Newswire

The coronavirus (COVID-19), with over 72,000 people infected and over 1,800 deaths, is dominating world and financial news. There is currently no vaccine to prevent coronavirus disease. This is causing analysts to have concerns that the coronavirus could seriously affect the world’s leading nation’s economies, resulting in substantially slower growth. In the face of this problem, Gold (the best safe-haven investment) is back on track towards the important $1,600 per ounce resistance level.
(See article above: Coronavirus Cure: Print More Money)

This Gold rally is in the face of the U.S. Dollar surging to a new 2020 high, over 99.1, as our positive interest rates and strong U.S. equity markets, trading near all-time highs, attract billions of dollars from world investors.

Gold closed last Friday at $1,583 per ounce, at the high of the week, up $13 on average trading volume. Gold continues to build a firm base above the $1,550 per ounce support level, on the way to reach $1,750 per ounce by year-end, a 15.2% increase for 2020.

Today: Amazing, with the U.S. Dollar continuing to set new 2020 highs, Gold has crossed the $1,600 per ounce level this morning. The last time Gold broke above $1,600 was January 8, 2020 on the Iranian Missiles crisis, reaching the 2020 high of $1,611 per ounce.

Silver continued to test the $17.50 per ounce support level last week, reaching a low of $17.40 twice. Silver closed the week at $17.72 per ounce, up $0.05 for the week. Considering the strength of the Gold price, I look for Silver to finally break and stay above the $18 level this week, on the way to $18.50 per ounce. The Silver Institute believes that macroeconomic and geopolitical conditions will remain broadly supportive for Silver this year, looking for a much higher price (see article above: Global Silver Market Forecast to Shine in 2020). With the Silver-to-Gold ratio trading at an amazing 89.33-to-1, Silver is an extraordinary bargain.

Today: After two weeks of trading below the $18 level, Silver has finally broken above the $18 per ounce level this morning.