Trade Tensions & Interest Rate Drops Help Metal Markets
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GOLD
Trade tensions between the U.S. and China are intensifying with the Chinese Yuan dropping to 7-to-Dollar, which has caused Gold/Silver to rally. Gold reached a new 2019 high of $1,470 per ounce as global equity markets and U.S. Dollar Index sell off. At 11am PT today, Gold is trading at $1,466, up $29 per ounce on excellent volume.
SILVER
Silver briefly moved back above $16.50 per ounce in early trading, as physical Silver demand picked up. The Silver price is being helped by lowered interest rates, as the 10-year U.S. Treasury drops to a record low of 1.77%. At 11am PT today, Silver is up $0.17 per ounce, trading at $16.45 on good volume.
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