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Silver Price & PGMs

Nov 20, 2020 11:35 NY TimeKitco 10AM Silver Fix

(Kitco News, Fri. Nov. 20th, 2020) –  Gold prices hit daily highs and are trading solidly higher in morning dealings Friday. The yellow metal started to move to higher levels on the day when U.S. Treasury Secretary Mnuchin was being interviewed on CNBC, trying to explain why the Trump administration would try to stop an emergency government lending program for American citizens, and not extend it into next year, even though there was funding for it. There are growing notions in the marketplace that Trump’s recent actions, including the aforementioned, are aimed at making life as miserable as possible for incoming President-Elect Joe Biden. Notions appear to be growing regarding just what Trump may do over the next two months, as he fumes over losing the U.S. election and refuses to acknowledge such. This uncertainty and anxiety among many market participants could be prompting some safe-haven demand for gold. December goldwas last up $13.70 at $1,875.00.

Is $40 silver price possible in 2021?

Kitco News) – Once industrial demand picks up, more tailwinds for silver will push the metal closer to the $35 to $40 an ounce range next year, said Peter Hug, global trading director of Kitco Metals.

“There’s two elements. One, if we got the inflation scenario and gold took off, silver being an industrial metal, with the economies rebuilding and regenerating, we’ll get an industrial component of demand coming into the silver market and push silver from a ratio perspective higher than gold where the ratio is currently,” Hug said.

Posted by :

Jack Dempsey, President

401 Gold Consultants LLC

jdemp2003@gmail.com