Gold And Silver Consolidate Above Key Levels

GOLD

After a year-to-date gain of 26% Gold is seeing some consolidation as safe haven demand slows. This comes in a time of quieter summer trading. After Trump’s decision to postpone his “Liberation Day” plans, giving other countries until August 1st to strike trade deals with the U.S., I remain confident that the Gold price has a path to continue upward. Investors await the minutes from last month's Federal Reserve meeting; a lowering of U.S. interest rates could increase physical demand for the yellow metal.

At 11 am PT today, Gold is trading at $3312, up $6 from Tuesday.

SILVER

Silver prices slipped a bit lower today on a stronger U.S. dollar and rising treasury yields. Despite the week’s downtrend, investors are watching the white metal, expecting the price to keep rising as industrial need for Silver grows and our above stockpiles of the metal shrink with demand outpacing supply.

At 11 am PT today, Silver is trading at $36.39, down $0.27.