Gold sold off when Dollar and equity markets moved higher

GOLD

Yesterday Gold reached a high of $1,305 before President Trump and Senator Mitch McConnell held a press conference to talk about the passage of Tax Reform legislation before year end. After their conference, the Dollar and the equity markets moved higher and Gold sold off, reaching $1,282 per ounce in trading this morning. At 11am PDT today, Gold is trading at $1286 per ounce, down $15 on very heavy volume.

SILVER

After hitting a high of $17.45 yesterday, Silver sold off with Gold in late trading. In today’s trading, Silver reached a low of $16.85 before finding bargain buying and quickly finding its way back over $17 an ounce again. At 11am PDT today, Silver is down $0.33, trading at $17.07 on higher than normal volume.

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