Combination of Facts Drives Up Gold Towards Resistance Levels

GOLD

Over the weekend Trump made serious threats against Iranian and Iraqi governments. The Iranians have clearly stated that they will attack American military bases. The combination of these two facts has driven up the Gold price in Asia trading as high as $1,584 per ounce. Anymore Middle East escalating could result in a break of the $1590 resistance level, followed by a move to $1603 and $1632 per ounce. At 11am PST today, Gold is trading at $1567 per ounce, up $17 on very high volume.

SILVER

Silver followed Gold higher on the same Trump, Iranian, and Iraqi news. In Asian trading this morning Silver quickly rallied $0.42 per ounce, reaching a high of $18.49, before seeing a profit-taking or short-selling.At 11am PST today, Silver is trading at $18.17, up $0.08 on heavy trading.