Gold & Silver Rally With Iranian Ceasefire On Life Support

GOLD

This morning, in early overseas trading in Hong Kong, China, the price of Gold started at $4,690 per ounce. Chinese trading continued last night, with Gold moving over $4,700 even after Trump’s comment that the Iranian reply was “Totally unacceptable”. As trading moved into India and London, the Gold price dropped to $4,650 per ounce. Then, when the U.S. opened, Gold rallied to $4,748 per ounce on the report that existing home sales for April increased 0.2%. The projection for existing home sales was that it would drop.

In late trading, after the president said that the Iranian ceasefire was on life support, Gold sold off.

At 11am PT today, Gold is trading at $4,722 per ounce, up $2 on excellent volume.

SILVER

This morning, Silver started lower in China, breaking below $79, then found serious buying, taking the price to a high of $81.75 per ounce. As trading moved into India, London, Silver stayed above $80, but in the U.S. soared to over $86 on sizeable fresh buying.

At 11am PT today, Silver is up $5.20 per ounce, at $85.55 on incredible volume.