President Denies U.S.-China Trade Deal Progress

GOLD

The current focus of market analysts is whether there will be a phase one trade deal between China and U.S. by year-end. Yesterday’s rumors that there was a roll back of tariffs may have been in error, as our President denied any progress in an agreement with China today. Gold reached a low of $1,455 per ounce early this morning before the Presidents statement. At 11am PT today, Gold is trading at $1,464 per ounce, down $2 on good volume.

SILVER

Silver reached a low of $16.62 per ounce before short-covering hit the market and drove up the price to $16.85, a $0.23 rally on professional trader short-covering ahead of the long holiday weekend. At 11am PT Today, Silver is trading at $16.90 per ounce, down $0.15 on good volume.