Morning Snapshot: Gold neared $1300 overseas

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Published : April 17th, 2017
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USAGOLD/Peter Grant/04-17-17

Gold extended to the upside in overseas trading to hit yet another 5-month high at 1295.46, before retreating back to near unchanged on the day. Most European markets are closed today for Easter Monday, so trading conditions remain thin.

Geopolitical tensions remain elevated, offering a solid underpinning to the gold market. Vice President Pence showed up in South Korea near the DMZ over the weekend to warn that the era of “strategic patience” with North Korea is over.

Rumblings of a possible preemptive strike against North Korea continue. Meanwhile, the Russians, Syrians and Iranians have all warned the U.S. against further strikes in Syria.

Additionally, the U.S. economy continues to sputter, offering additional support for gold. We saw further downward revisions to Q1 growth forecasts in the wake of Friday’s drop in retail sales and CPI. This morning, the NY Empire State Index plunged to 5.2 in April, well below expectations of 15.0, vs 16.4 in March. Nearly all of the post-election gains have new been erased.

Read the rest of the article at USA Gold
Data and Statistics for these countries : Georgia | South Korea | Syria | All
Gold and Silver Prices for these countries : Georgia | South Korea | Syria | All
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