The gold train is back on track to start the new week, with precious metals catching bids again in trading today. Gold is up nearly 1% to retest the recent highs near $4,060 from the jump last week. Some profit-taking did lead to a minor drop but dip buyers were rewarded with the latest US-China developments.
The kerfuffle between the two sides once again reaffirms the erratic and incoherent policy delivery from the US administration. But also, it continues to suggest that Beijing is not going to relent in this trade war, as evident by their threats on rare earth export controls in trying to manage expectations in Washington.
In any case, gold is once again a beneficiary as it climbs back up to near $4,060 as we look towards European trading.
Meanwhile, silver is also up over 2% on the day to $51.54 - carrying with the weekly break above $50. Sky's the limit now.
