Precious Metals Rally On U.S. Stock Market Decline

GOLD

This morning the U.S. November ISM Manufacturing Index was released and it was lower than the expected 49.4, at only 48.1. With Chinese manufacturing increasing, the U.S. stock markets declined and precious metals rallied. Gold had reached a low of $1,453 in early Asian trading before this news was released and quickly jumped $10 per ounce. At 11am PT today, Gold is trading at $1,464.5, up $10.5 per ounce on good volume.

SILVER

Silver also sold off in early Asian trading this morning, reaching a low of $16.80 before rallying on the manufacturing news. With the Chinese-U.S. trade talks hitting a snag over the Hong Kong protests the precious metal prices strengthened. At 11am PT today, Silver is down $0.04 per ounce, trading at $16.94 on normal volume.