Wednesday, August 9, 2017

Gold price recovers over $20 and silver up nearly 3% after overnight plunge

Gold prices were slammed down during early to mid-morning trading in Asia on Aug. 9 due to growing currency chaos resulting from the unrest over North Korea's potential for a viable nuclear ICBM.  However, this decline in price not only recovered over the next 12 hours, but it in fact rose over $20 to settle around $1272 by the start of morning trading in New York.

In the meantime silver was not affected by gold's volatility overnight and has seen a steady climb up of nearly 3% to just under $17 per ounce.

As geo-political events continue to simmer in regards to North Korea, a potential trade war with China, and ongoing economic warfare against Russia, gold and silver should continue to move higher, and could soon break key resistance levels of $1300 for gold, and $17.50 for the white metal.


Post a Comment