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Gold Reacting To Tariff Threat Again

Commentaries & Views

(Kitco News) - Gold remains influenced by the threat of increased tariffs on China from the U.S. On Friday, President Trump’s comments that $200 billion worth of tariffs would be imposed on China created a flow back into the dollar and drove gold below the $1,200 mark. We continue to believe that a resolution or at the least a moderation of the bluster is likely and remain constructive on the metals complex. We may continue to see consolidation until the Fed meeting next week and would consider a “buy the news” trade, after the expected rate announcement. Technically, gold shows support at $1,192, with resistance firmly in the $1,207 area.

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.
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