Bloomberg analyst Mark Cranfield noted that small turnovers are simply not a golden style after a big increase (usually somewhere between 15% and 20% decline) and selling pressure on precious metals continued when Japan and China opened this evening with silver futures contracts back for $23 and gold futures contracts back under $1900.

The main foundation for the growth of precious metals is the fact that the Federal Reserve is pushing trillions of dollars and does not plan to stop doing so soon. Fed Chairman Jerome Powell said he was not even thinking about raising interest rates. There are reports that the central bank is ready to commit to rising inflation. All this is extraordinary for bull gold.

In an interview with CNBC, Frank Holmes, CEO of US global investors, said we would see a troy ounce of gold at $4,000 in the relatively near future, thanks to the aforementioned fact that the G-20 central banks "cooperate like a cartel and all print trillions of dollars."

Source: Tradingview.com

The attached graph shows comparison of performance of gold and silver futures.