Gold opened higher on trade war fears

GOLD

After our President signed an executive order putting $60 billion worth of new tariffs on China, it appears the Asian financial markets are really concerned about a trade war. Gold opened $10 higher as heavy demand rushed in, and reached a high of $1,351 per ounce before the buyers cooled off. At 11am PDT today, Gold is up $21 per ounce, trading at $1,348 on excellent volume.

SILVER

Silver followed Gold higher, reaching $16.71 per ounce, before seeing short-term profit taking and short selling. After hitting a low of $16.14 per ounce last week, it’s important that Silver stays over the $16.50 level. At 11am PDT today, Silver is trading at $16.55, up $0.13 per ounce on active volume.