Gold Price Drops After Trade War Truce

GOLD

Trumps agreement with the Chinese over the weekend, reaching a truce on the current trade war and agreeing to restart negotiations, has caused Gold to drop below the important $1,400 per ounce level. Gold did reach a low of $1,384 before rallying. At 11am PT today, Gold is trading at $1,388 per ounce, down $22 on good volume.

SILVER

Silver has moved lower with Gold this morning. Silver reached a low of $15.08 before finding buyers and short-covering. Silver is staying stuck in a $15 to $15.50 trading range until Gold breaks out. At 11am PT today, Silver is down $0.15 per ounce, trading at $15.15 on normal volume.