Gold Opens Lower As Chinese Move Closer To Trade Deal

GOLD

Gold opened lower in Asian trading based on reports that the Chinese were moving closer to making a trade deal. Over the weekend the Chinese government called for stronger protections in sharing intellectual property, a key issue in U.S. – China negotiation. This news caused Gold to drop $5 per ounce to $1,457. At 11am PT today, Gold is trading at $1,457 per ounce, down $7 on average volume.

SILVER

Silver moved lower with Gold, breaking below the key $17 per ounce level. Silver found support at $16.90 per ounce and has rallied up $0.05 on bargain buying. At 11am PT today, Silver is down $0.12 per ounce, trading at $16.91 on normal volume.