Risk-On Market Sentiment Pressures Gold and Silver Prices

September 14, 2019

New York (Sept 14)  While it is not only bullish sentiment for the risk-on asset class that has pressured gold and silver pricing today, it was one of the forces which resulted in lower precious metals pricing. Rising bond yields, a strong consumer sentiment index which went from 89.8 to 92 in September, and lessening geopolitical risks all contributed to today’s weakness in both gold and silver pricing.

As reported by MarketWatch, “China made further concessions to the U.S. on international trade on Friday, adding agricultural products like soybeans and pork to the list of imports exempted tariffs, as prospects for at least an interim deal to resolve the two-year-old trade dispute improve. The move by China follows reports on Thursday about the prospects for at least an interim deal to resolve the trade war that could involve the US delaying or reducing some tariffs on imports from China in exchange for Chinese commitments on protecting U.S. intellectual property rights and agricultural purchases.”

According to Reuters, on Thursday President Trump said he preferred a comprehensive trade deal with China but did not rule out the possibility of an interim pact. Speaking to reporters at the White House Trump stated, “I’d rather get the whole deal done. I see a lot of analysts are saying an interim deal, meaning we’ll do pieces of it, the easy ones first. But there’s no easy or hard. There’s a deal or there’s not a deal. But it’s something we would consider, I guess.”


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