Gold holding losses amid Trump address to U.S. citizens

January 8, 2020

New York (Jan 8)  Gold prices are weaker but have moved up from daily lows after President Trump implied that the U.S. won’t retaliate for the Iranian missile strike near U.S. troops less than 24 hours ago. Trump said Iran is “standing down.” However, Trump said the U.S. will impose additional “severe” economic sanctions on Iran and vowed that Iran will never have a nuclear weapon. Trump’s tough talk on Iran allowed gold prices to move up from their daily lows. February gold last down $4.20 at $1,570.00.

By 11:55am EST spot gold was already down $39 to $1,554, while spot silver plummeted more than 2% to $18.13.  Also, spot platinium has fallen nearly 2% to $958.


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