This morning President Trump and Leader Kim Jong Un signed an historic agreement to keep talking about denuclearizing the Korean peninsula. Regular readers know this Gold Enthusiast’s view that every day people spend talking and not shooting is probably a good day. But in terms of gold prices such agreements tend to be downers rather than uppers, and that’s what we’re seeing on the New York markets this morning.
Gold is down about 10 US Dollars per ounce in pre-market trading, and may continue down from here. We’ll keep it short today as we’re expecting a big news-volume day, what with all the harumphing going on in Korea. So we’ll summarize for now by saying: Keep an eye on support at 1285 then 1260. And, there are still lots of reasons to be bullish on future gold prices, many of which are laid out in today’s featured article.
Related: The Dollar is Bottoming Out – And Here’s Why