Dollar is down and Gold is up

GOLD

President Trump continues the discussion on not raising interest rates that he had yesterday on CNBC. His morning tweets now mention how, “China, the European Union and others have been manipulating their currencies and interest rates lower, while the U.S. is raising rates while the dollars get stronger and stronger with each passing day - taking away our big competitive edge. As usual not a level playing field.” He continued on to discuss how the US should not be penalized and that we should “be allowed to recapture what was lost due to illegal currency manipulation and BAD Trade Deals….” the Dollar is down again today on this news and Gold has reclaimed much of its correction over the last week. At 11am PDT today, Gold is trading at $1,231, up by $4 on very strong trading volume.

SILVER

Silver was already in the process of regaining its value in overnight trading in Asia and London, but with this morning’s tweets from the President, the gain has continued well into US trading. At 11am PDT today, Silver is trading at $15.58 up by $0.11 on above average trading volumes.