March 05, 2018 -- Precious metals lost ground early last week but rallied into Friday’s close on concerns over a trade war. President Donald Trump imposed tariffs on steel and aluminum imports and the rhetoric over trade has been escalating.

The Chinese and Europeans threatened to retaliate, and the president is hinting that more tariffs and taxes on imports could be forthcoming.

Stocks sold off early on Friday but managed some recovery into the close.

However, volatility, which has been absent in recent months, is clearly on the rise.

Gold and silver may also get a boost from extreme positioning in the futures markets. Craig Hemke of the TF Metals Report observed Friday that Large Speculators have a net short position in silver for the first time since data became available in 2002.

Conversely the bullion banks’ short position has also fallen to extraordinarily low levels.



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