Gold Breaking Down The $1,200 Level Is Concerning

GOLD

Concerns about another $200 billion in Chinese tariffs caused a rally in the U.S. Dollar, and the equity and precious metals markets to sell off this morning. Gold breaking down below the important $1,200 level is concerning. At 11am PDT today, Gold is trading at $1,197 per ounce, down $7 on average volume.

SILVER

Silver followed Gold’s lead, testing the $14 support level. After reaching a low of $14.03 per ounce, Silver found buyers and rallied back. At 11am PDT today, Silver is down $0.05 per ounce, trading at $14.15 on normal volume.

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