Gold reacting to financial market volatility

GOLD

Between yesterday’s dovish statements by Federal Reserve Chair Powell and today’s Chinese trade tariffs from the White house, the volatility in the financial markets has increased dramatically. Concerns about a possible global trade war caused Gold to reach a high of $1,337 per ounce before seeing short-term profit taking. At 11am PDT today, Gold is trading at $1,327 per ounce, up $5 on excellent volume.

SILVER

Silver reached a high of $16.60 on the same news that drove Gold higher. Wednesday’s final trading volume on the CME was about double Monday/Tuesday exchange volume, which shows increased buying. At 11am PDT today, Silver is up $0.02 per ounce, trading at $16.42 on good volume.