Gold Reacting To Tariff Threat Again

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

By Peter Hug

Contributing tokitco.com

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