Trade war concerns moving Gold lower
Continued concerns over a trade war with China are driving the value of the U.S. Dollar higher, while the Chinese Yuan (14-month low), Equity Markets and precious metals are moving lower. The Gold price has been moving lower most of the day, reaching a low of $1,211 per ounce. At 11am PDT today, Gold is trading at $1,212 per ounce, down $8 on normal volume.
Silver reached a low of $15.31 earlier today and bargain buyers appeared for a short term, driving the price up to $15.50. At that point, selling hit the market driving the Silver price lower. At 11am PDT today, Silver is down $0.10 per ounce, trading at $15.38 on average volume.