Silver Futures Market News and Commentary
Apr Comex gold (GCJ20) this morning is up +4.2 (+0.26%), and Mar silver (SIH20) is up +0.095 (+0.52%).
Precious metals today posted 6-week highs on news that China will boost stimulus measures to counter the negative economic effects from the China coronavirus. There are now more than 75,000 confirmed cases of the coronavirus, with deaths exceeding 2,000.
Gold prices are seeing support today from Chinese government stimulus measures, which could be inflationary down the road. The Chinese government is considering measures such as direct cash injections and mergers to bail out some of China's biggest airlines, which are controlled by the state, as global carriers have stopped about 80% of their China flights. Also, the People's Bank of China (PBOC) said today in its quarterly monetary policy implementation report that it will increase credit support to help prevent and curb the coronavirus spread.
A rally in stock indexes today is negative for the safe-haven dema... Read more