Forex Trading Precious Metals: Silver, Gold at Record Highs. US Indices like S&P500 Tanking Again!

In today’s GCI Market Outlook, let’s take a look at Forex Trading on EURUSD, WTI Crude Oil, the S&P500, Palladium, Platinum, Silver, XAGUSD, and Gold, XAUUSD.

Price action on Silver XAGUSD and Gold XAUUSD, is a one-way street with prices at record highs.

Palladium and platinum are following suit.

Everybody is buying gold these days, with price at an unheard-of $4,350 based on geopolitical and economic uncertainty.

Silver often follows gold, but supply issues have hit all precious metals, driving up prices.

Also, due to the price of gold, many are seeing other precious metals as safe haven assets.

The question is: when will it end, and when will it be a good time to go short?

If big funds and central banks decide to take profit on gold, we may see prices fall but we won’t know until it happens.

In other turmoil, the US administration is still causing chaos in the US-China trade wars, and the US Indices have fallen below the last crash one week ago.

If cooler heads prevail, we may see a repeat of last Monday’s recovery.

And, don’t forget, the US government shutdown is affecting everything.

Brent crude and WTI have fallen further on over-supply issues, and we will watch for signs of a reversal.

And, with the stock market selloffs, USD is stronger as investors go to cash for the time being.

That’s all for now.

CFDs and FX are leveraged products, and your capital may be at risk.