Gold And Silver Demand Increases Over Strained Relations

GOLD

Investor concerns over strained relations between the U.S. and China due to what is happening in Hong Kong right now has increased demand for Gold and Silver. The U.S. Secretary of State said Hong Kong was no longer autonomous from China, implying the U.S. may revoke Hong Kong’s favorable trade status. At 11am PT today, Gold is trading at $1,722 per ounce, up $3 on good volume.

SILVER

After testing its important $17 per ounce support level yesterday, silver quickly moved higher with gold this morning. Silver reached a high of $17.64 this morning before seeing short-term profit taking. At 11am PT today, silver is up $0.10 per ounce, trading at $17.41 on good volume.