Gold Reaches $3,169 On Tariff Increases, Then Sees Profit-Taking

GOLD

After Trump’s speech yesterday on global tariffs, the markets worldwide had extraordinary volatility. While world equity markets were selling off, Gold quickly rallied to $3,169 per ounce, a new All-time high. Then, as we saw a liquidity crunch, the price of Gold started to drop, reaching a low of $3,051 before seeing bargain buying. The U.S. Dollar Index dropped from 104 to 101, this sizable decline helped Gold rally back over $3,100 per ounce.
At 11am PT today, Gold is trading at $3,109 per ounce, down $15 from yesterday on excellent volume.

SILVER

After a quick rally to $34 per ounce, Silver really got hammered today, reaching a low of $31.64 per ounce, over a $2 decline from Wednesday close.
At 11am PT today, Silver is trading at $32.05 per ounce, down $1.73 on excellent volume.