Renewed Chinese Trade Discussion Drives Gold Up
A sell-off in the U.S. Dollar, caused by talk of renewed Chinese trade discussions, has driven Gold back over $1,200 per ounce, reaching a high of $1,208. It’s important for the short-term direction of the Gold price for it to stay above $1,200 for the balance of the week. At 11am PDT today, Gold is trading at $1,207, up $9 per ounce on excellent volume.
Silver moved up with Gold in early U.S. trading, reaching a high of $14.32 before seeing some light selling. At 11am PDT today, Silver is up $0.09 per ounce, trading at $14.26 on good volume.