Gold and silver prices are higher in early U.S. trading Friday, boosted by corrective rebounds from Thursday’s losses. Trading has been choppy recently, but the gold and silver bulls are holding onto their near-term technical advantage. April gold futures were last up $8.10 an ounce at $1,303.30. May Comex silver was last up $0.194 at $15.365 an ounce.
The raw commodity sector, including precious metals, has been given a boost by news that on April 1 China plans to further cut taxes on its businesses and citizens in an effort to stimulate the world’s second-largest economy and the world’s largest raw commodity importer. This news comes after China’s central bank recently eased its monetary policy following a few months of downbeat economic data, due in part to the U.S.-China trade war.
Asian and European stocks were mostly higher overnight, while U.S. stock indexes are also pointed toward higher openings when the New York day session begins. Keener investor risk appetite in the world marketplace at present is continuing to constrain the safe-haven gold and silver markets.
Posted By :
Jack Dempsey, President
401 Gold Consultants LLC
jdemp2003@gmail.com