Gold, Silver And Platinum See Heavy Selling

GOLD

A number of issues have come together today that have driven down the Gold, Silver, and Platinum price.
1) It appears that we have signed a trade deal with China, averting a trade war.
2) Tensions in the Middle-East have significantly de-escalated.
3) Many of the largest world stock markets have been moving higher, which provides an alternative to precious metals.
4) The Personal Consumption Expenditures (PCE) inflation number rose to 2.7% in May, an upward surprise.
The PCE news will delay any interest rate cuts by the Fed.
Gold reached at low of $3,254 before finding bargain buying.

At 11am PT today, Gold is down $60 per ounce, trading at $3,275 on heavy volume.

SILVER

Silver dropped below the $36 per ounce support level as the Gold price fell.
Silver rallied back and has traded today above and below the key $36 level.

At 11am PT today, Silver is trading at $36.08 per ounce, down $0.62 on heavy volume.