US Dollar Down On Proposed China Tariffs

GOLD

With no trade deal agreed upon with China as of this moment we are looking into the complications that should take effect. So far the short term news is that only items that are shipped starting today take effect and toys/electronics are exempt from the 25% tariff imposed on Chinese imports. The US Dollar is down based on the news and Gold is seeing a lot of activity today. It’s been slowly climbing, starting in the Hong Kong trading and continuing into the New York market. At 11am PT today, Gold is trading at $1287.50 up by $1.50 on very strong volume.

SILVER

Much calmer in the Silver pits today. Except for a quick drop of about $0.10 in the opening of the New York trading, but it quickly came back and climbed above the New York opening. After which is quieted back down again. At 11am PT today, Silver is trading at $14.84 with no change from yesterday on lighter than normal volume.