Gold Trying To Stay Above $2,900 Per Ounce

GOLD

President Trump and his allies are openly challenging judicial power by defying a federal court order. This chaos is foreshadowing a possible breakdown of the U.S. government. Today, Donald Trump also removed the head of the Office of Government Ethics from his post. This is the latest example of Trump acting against any government watchdogs. These moves, on top of a 25% tariffs on steel and aluminum, are driving up demand for Gold. Gold reached a high of $2,946 in early Monday trading and then came the profit-taking.

At 11am PT today, Gold is trading at $2904, down just $1 from Monday.

SILVER

Silver is having a difficult time staying above the key $32 per ounce level. Silver reached a high of $32.31 in late Monday trading, but was hit with selling and short-term profit taking.

At 11am PT today, Silver is trading at $31.88, down $0.22.