Gold / Silver Monday Climbing – Will It Hold?

Gold / Silver Monday Climbing – Will It Hold? by Rory for The Daily Coin

As we noted earlier today the metals are climbing and presumably “building new floors” for gold and silver. We feel confident that silver will compete the construction as this day heads into the afternoon trading. The “pit” is now closed and silver has put on a very healthy 3.5%, approximately 0.65$, gain for the day.

Gold, while it has had nice morning and trading session, it shows why silver should be looked at seriously for generating some wealth. Silver rose 3.5% and gold rose by a whopping 0.5% or approximately $7.00. Of course both metals have the remainder of the day this is simply a look at the first part of the day through the AM and PM fix, “pit” trading session.

Further support for this strong start to the week to continue as the week unfolds. The geopolitical landscape is, currently, a nightmare that is getting worse by the day.

The weaker-than-expected economic readings added to investor worries over the effect of the U.S.-China trade dispute on the world economy, denting appetite for riskier assets.

Over the weekend, the U.S. Trade Representative’s office issued a statement characterizing two days of talks with China as “productive.”

This comes after Chinese officials unexpectedly canceled a visit to U.S. farms following their negotiations in Washington.

Adding to global geopolitical risks, tensions remained elevated in the Middle East after Washington ordered more troops to the Gulf region to strengthen Saudi Arabia’s air and missile defenses, following an attack on the kingdom’s oil facilities. Source

We expect to see more moves like today as the week continues. While nothing moves in a straight line north, except the FAANG’s, we expect to see some profit taking either Tuesday or Wednesday and then the northern climb to continue.

Now would be an excellent time to consider adding to or starting a new stack of physical. We just picked up some of the really beautiful ATB and Lunar Series silver coins that will be delivered in a few weeks. We fully expect to see much higher silver by the time we take possession of the coins we just ordered. I like the potential of turning a profit without doing a thing except making the right decision and acting upon it.

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The Daily Coin

Rory Hall, The Daily Coin. Beginning in 1987 Rory has written over 1,000 articles and produced more than 300 videos on topics ranging from the precious metals market, economic and monetary policies, preparedness as well as geopolitical events. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver, Silver Doctors, SGTReport, and a great many more. Rory was a producer and daily contributor at SGTReport between 2012 and 2014. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Don't forget to visit The Daily Coin and Shadow of Truth YouTube channels to enjoy original videos and some of the best economic, precious metals, geopolitical and preparedness news from around the world.