Los Angeles CA, April 3 (Tangible Investments) – by James O’Dell – Gold and Silver prices were mixed in early trading on Monday, with Gold up 0.11 percent to $1,250.60 an ounce after gaining $6.70 or 0.54 percent on Friday to finish the week at $1,249.20 an ounce. Gold up 8 percent first quarter.

The price of Silver is down 0.04 percent to $18.19 an ounce after adding $0.14 or 0.67 percent on Friday to end the week at $18.23 an ounce, while the Gold/Silver ratio fell to 68.52. Platinum is up 0.11 percent to $949.00 an ounce and Palladium is up 0.13 percent to $798.00.

Gold Up 8 Percent

Gold edged higher in early trading on Monday supported by political uncertainty in the U.S. and Europe. The yellow metal posted a quarterly gain of 8.4 percent on Friday, its best quarter in a year. “We think that both the Gold and Silver complexes will make fresh highs this month ahead of the French elections, but likely fade in their immediate aftermath,” said Edward Meir, analyst at INTL FCStone.

Todd Colvin of Ambrosino Brothers said macro concerns will keep him a “gold buyer and holder,” that includes the Fed tightening monetary policy. “It’s not just U.S. growth, it’s Fed policy, it’s U.S. fiscal policy, it’s European elections,” said Colvin recently on CNBC’s “Futures Now.” Colvin added that there are “a lot of things out there that are going to keep Gold bid until we get [a more stable macroeconomic outlook].”

Gold And Silver Bargains

Meanwhile, Matterhorn Asset Management’s Egon von Greyerz says that Gold and Silver are bargains at current prices. Greyerz says that considering the risks in the global financial system, investors should be looking to buy. He says the next up leg has likely already begun and we could see $1,350 Gold and $20 Silver, shortly. The money manager went on to say that he would not be surprised to see all-time highs in 2017.

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