Precious Metals React to De-escalation

GOLD

Gold surged above $1,600 an ounce to the highest level in more than six years after Iran attacked two U.S.-Iraqi airbases in its first retaliation against the U.S. killing of a top general last week. However, since Trump's speech to the nation did not escalate the tensions, Gold sold off $40 from the highs. At 11am PT today, Gold is trading at $1,556 per ounce, down $18 from yesterday’s close.

SILVER

Silver reached a high of $18.80 per ounce when Gold was over $1,600 per ounce. Silver also reacted with the de-escalation of Iranian War concerns, dropping $0.20 from yesterday’s close. At 11am PT today, Silver is down $0.22, trading at $18.13 per ounce on heavy volume.