Negotiation Progress Drives Down Gold Price

GOLD

Optimism about the progress in the U.S. negotiations with China on trade talks has sent the Dow Jones Higher by over 400 points, while driving the price of Gold down to a low of $1,472 per ounce. With the U.S. Dollar Index selling off I expect to see the Gold price rally back quickly to the $1,500 level next week. At 11am PT today, Gold is trading at $1,486, down $14 per ounce on good volume.

SILVER

When Gold sold off, Silver briefly reached a low $17.29 per ounce. At that point sizeable buying hit the world Silver markets, especially from buyers from India. At 11am PT today, Silver is down $0.08 per ounce, trading at $17.52 on good volume.