Precious metals rally on new tariffs
During Asian trading this morning, the Chinese government announced they were imposing 106 new U.S. product tariffs. Global financial markets reacted to the downside and precious metals rallied. Gold reached a high of $1,347 per ounce before short-term profiting took hold. At 11am PDT today, Gold is trading at $1,337 per ounce, up $2 on good volume.
Silver reached a low of $16.20 when Gold was hit with profiting. Then Silver buyers came in to the Silver markets and it quickly rallied above $16.30 per ounce. At 11am PDT today, Silver is down $0.12 per ounce, trading at $16.31 on normal volume.