Trade War “On Hold” – Sinking Gold

Gold and Silver Market Insights

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.

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