Gold Making New All-Time Highs - Trade War Started

GOLD

Gold trading moved lower at the beginning of this morning’s Asian trading. Gold reached a low of $2,766 because of the higher U.S. Dollar and a firm belief that the inflation caused by the tariffs will not allow the Fed to cut interest rates this year. As trading moved to London, the traders focused on the longer-term effects of the tariffs and the worldwide inflation it will cause. Gold quickly moved off the lows and reached a new all-time high of $2,817 before seeing some light short-term profit-taking.

At 11am PT today, Gold is trading at $2821, up $21 from Friday.

SILVER

Silver followed Gold lower on the tariff concerns, reaching a low of $30.60 before seeing bargain buying, taking it back over $31 per ounce. Silver is considered to be one of the best inflation hedges and could outperform Gold in the near future.

At 11am PT today, Silver is trading at $31.59, up $0.26 today.