Silver Hitting New 13-Year Highs

GOLD

Gold is on the rise, having rallied three days in a row now, crossing the $3,340 level in early Friday trading. Risk Aversion has been on the rise today, pushing prices higher in the metals market as tensions in both the Middle East and between the U.S. and Russia are predicted to escalate again. Trump has also threatened new tariffs on other countries and a 50% tariff on industrial copper imports, shocking the markets and providing further support to precious metal prices.

At 11 am PT today, Gold is trading at $3353, jumping up $41 from yesterday.

SILVER

Silver has been attracting significant investor attention ahead of the weekend, as it has broken above $38 per ounce. This breakout follows the $37 level being tested earlier this week, where it failed to hold due to heavy selling pressure. After seeing the other precious metals make strong gains this year, it was time for Silver to see a significant breakout, surpassing 2012 highs of $37.50 per ounce. Industrial demand for Silver remains high, and with Trump’s announced 50% tariff on copper imports, traders have turned to Silver in a rush to import the white metal.
The Gold/Silver ratio has dropped to 87.81.

At 11 am PT today, Silver is trading at $38.46, a $2.07 increase from Thursday.