This weekend’s peace declaration in the Trade War gave the stock market a big boost…and gold took it on the chin.
Treasury Secretary Mnunchin told Fox News Sunday morning that the Trump Administration’s proposed tariffs were “on hold.” This is taking the wind out of the sails of any safe haven investing. Risk-taking is back in style. The DO has jumped over 250 on the day.
Precious metals reacted in the early morning hours, the yellow metal fell to it its lowest spot price since late December at $1,281.76 an ounce. The mid-morning has since gold make up some of this wee hour loss, clawing its way to currently hover around $1290.
U.S. Treasury yields also on the rise, which doesn’t do anything for gold’s shine.
Elsewhere in our markets:
- Silver is basically flat around $16.50
- Platinum on a small steady climb this morning to 895
- Palladium is the happiest of the precious metals right now, up over $20 from yesterday to hang around $990.
Have a wonderful Monday.
Disclaimer: This editorial has been prepared by a senior Dillon Gage Metals staffer for information and thought-provoking purposes only and does not purport to predict or forecast actual results. This editorial opinion is not to be construed as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein cannot be attributable to Dillon Gage. Reasonable people may disagree about the events discussed or opinions expressed herein. In the event any of the assumptions used herein do not come to fruition, results are likely to vary substantially. It is not a solicitation or advice to make any exchange in commodities, securities or other financial instruments. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisers with respect to these areas. By posting this editorial, you acknowledge, understand and accept this disclaimer.