Gold & Silver Bouncing Off Recent Lows On Good Volume

CLICK HERE FOR NEW Morgan Silver Dollars

CLICK HERE FOR NEW Peace Silver Dollars

CLICK HERE FOR NEW $20 Gold Saint Gaudens

	JPMorgan’s ‘Big Hitters’ Of Gold Market Face Trial Over Spoofing
	Michael Nowak was once the most powerful person in the gold market. . . . Eddie Spence and Tom Schoenberg
	Gold Falls Further Below $1750 After US ISM PMIs, FOMC Minutes Eyed
	Gold price tumbles to fresh multi-month lows below $1752.51, amidst concerns of a global economic recession . . . . Christian Borjon Valencia
	Central Banks Add More Gold In Month Of May
	This is the second consecutive month of net buying, having recently oscillated between monthly net purchases and sales . . . . Krishan Gopaul
	Gold Sanctions Unlikely To Slow Down Russian Exports
	The UK, Canada, Japan and the US have led G7 countries with bans on the import of Russian gold . . . . Stuart Fieldhouse
	Goldman Sachs Raises Gold Target Yet Again To $2500/Oz
	Goldman Sachs has recently raised its year-end 2022, gold price target to $2500/oz, signaling a strong 2022 after gold prices ended 2021 down approximately 4% . . . . Hedge Think
	Don’t Forget The Golden Rule
	Disinformation for many years has kept the lid on this tinder-box . . . . Peter Hambro

Last week was full of weak economic and strong inflation news from Europe, Asia, and the United States. Strong inflationary news, combined with the resignation of Prime Minister Boris Johnson, caused the Euro to sharply decline versus the U.S. Dollar. The U.S. Dollar Index has reached a 20-Year high of over 107.75, which has put pressure on Gold and Silver prices.

Last Friday, the non-farm payroll numbers for June were reported up 372,000, versus market expectations for a rise of 250,000 and compared to the 390,000 gain in the May report. The unemployment rate in June was 3.6%. This news initially drove the Gold price down to $1,730, then serious buying appeared and briefly took the price back over $1,750.

Gold closed last Friday at $1,740.80, down $61 per ounce for the week. That is the lowest price Gold has traded at since September of last year. I believe we will see heavy central bank buying reported for the months of June and July. It’s been reported in New Delhi newspapers that India investors have been aggressively buying Gold at bargain levels over the past month.

Today: The U.S. Dollar Index continued its move higher this morning, reaching a high of over 108. That rally put pressure on the Gold price, reaching a low of $1,734 in European trading. Gold traded today in a narrow range between $1,734 and $1,744 per ounce.

Last Friday, on the stronger than expected non-farm payroll news, Silver briefly reached a low of $18.93 per ounce. Silver closed trading on Friday at $19.20 per ounce, down $0.42 Silver is currently trading at a 1 ½ year low and demand is strong for bullion and many of the popular Silver bullion plus coins. The Silver-To-Gold ratio closed last week at the unbelievable level of 90-to-1.

Today: Silver followed Gold lower in early trading, reaching a low of $19.11 per ounce. Silver reached a high of $19.43 per ounce as Gold moved higher.