This week we have watched themetals continue to churn in a range and mentioned that they may have found ahigher low with a new support level. On Thursday, gold sold off hard, tradingbelow the $1,330 support but closing right near support.
Overnight President Trump startedtalking tariffs and trade wars again, sending equities reeling down over 400 pointsat one point. Gold barely budged on the news and traded in a $10 rangeovernight, sitting now at $1,330.
The metal's lack of reaction tothe market fears is concerning, especially with a flat to lower dollar. Themetals should have moved higher on the news, which is a reason for concern. Inthe meantime, gold and silver remain in their consolidation ranges but the newsupport level may not hold.
By Todd 'Bubba' HorwitzContributing tokitco.com
Follow @Bubba_TradingBubba@bubbatrading.com www.bubbatrading.com/ 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.