Make Kitco Your Homepage

Gold Solidly Down, At 3-Week Low, As Raw Commodity Sector Hit By Trade Worries

Kitco News

Live 24 hours gold chart [Kitco Inc.]

(Kitco News) - Gold prices have hit daily lows and three-week lows in late-morning action Friday. The yellow metal is being pressured by losses across much of the raw commodity sector, after the Trump administration levied more tariffs on China, with the promise to slap more trade sanctions on China if China retaliates. The recent surge in the U.S. dollar index is also an underlying negative for the precious metals markets. Technically, the gold bulls faded badly today, and a bearish weekly low close on Friday would suggest more downside price pressure early next week. August gold was last down $17.80 an ounce at $1,290.50.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News