Extraordinary Volatility In Precious Metals Trading Range

GOLD

What a day for the Gold price. We are definitely seeing increased volatility in the trading range. Last night during Asian trading Gold reached a high of $1,530 per ounce, and when the U.S. markets opened and Chinese tariffs increases were delayed, Gold reached a low of $1,480 per ounce. A $50 high low trading range in Gold is extraordinary. Gold rallied back from the lows to move above the $1,500 range as volatility calmed down. At 11am PT today, Gold is trading at $1,502, down $4 per ounce on excellent volume.

SILVER

The high volatility in Gold market doesn’t compare to today extraordinary volatility in Silver trading. Silver reached a high of $17.50 per ounce in Asian overnight trading.
However, after the Chinese tariff news was released Silver dropped to $16.50 per ounce on large volume. I haven’t seen a $1.00 high/low trading range in Silver since 2011. Silver stabilized around the $17 level for the balance of the trading day. At 11am PT today, Silver is down $0.07 per ounce, trading at $16.98 on excellent volume.