July 1, 2019 -- Gold is down sharply this morning after edging $10 higher last week. Despite the pullback today, both silver and especially gold looks strong technically.

Today’s metals correction as well as a new surge in the stock indices are the first market reactions to renewed optimism over trade with China.

President Trump announced some progress over the weekend, including a plan to reduce U.S. sanctions against the giant electronics firm Huawei. The development may continue to boost equity markets and weigh on metals prices.

The wild card is whether investors begin discounting the odds of a rate hike at the end of July. The prospect of easing may be a bigger driver in when it comes to share prices than a potential trade deal.

This week’s economic data will include the ISM Manufacturing Index and Factory Orders as well as the monthly Employment Report.




Check out live precious metals prices here:
https://goo.gl/gy5XMA