Gold and Silver spike on Trump tweet
President Trump’s tweet warning Syria/Russia that missiles are on the way this morning caused Gold, Silver and oil to spike. This kind of geopolitical trouble causes serious concerns with investors around the world and they run to safety, GOLD. Plus, oil is at a three-and-a-half year high. Today’s news plus yesterday’s Los Angeles Times front page headlines saying “Deficit, debt are projected to run amok under Trump” are going to drive Gold much higher. At 11am PDT today, Gold is up $15 per ounce, trading at $1,355 per ounce on excellent volume.
This morning Silver rallied from $16.45 to $16.92 per ounce before seeing some light short-term profit taking. Silver should have substantial resistance before breaking above the important $17 per ounce level. At 11am PDT today, Silver is trading at $16.72 per ounce, up $0.09 on good volume.