President Trump’s tweet about delaying tariffs on Chinese goods reversed the stock market’s slide yesterday and sent gold into a tailspin. But only briefly, as it turned out. After dipping down to 1490 yesterday, this morning gold is right back up to 1513 in pre-market US trading. So no harm, no foul, right?
Gold bulls want to see gold stay above 1500, so that’s the number to watch. The core economic news to keep an eye on now is the appearance of negative-yield bonds, which will likely drive more money into safe havens such as gold. Today’s featured article gives the rundown on this, and projections of where gold is heading as a result.
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