While trade optimism has pushed US indices to all-time highs, precious metals are clearly the losers of this situation. Market optimism drives bond yields higher to the detriment of silver (-3.2% today), platinum (-2.5%) and gold (-1.8%). Gold price broke through the key support zone of $1480 and this could have triggered stop losses. For silver, there is still a strong support at around $16.80.
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