Gold News & Info

Source:Bill Musgrave, American Gold Exchange

AustinGold fell 1.3% to close under $1,342 as traders took profits from a four-session rally and Syrian tensions eased, boosting risk appetite and the dollar.

President Trump tweeted that an airstrike on Syria might not be imminent after all, walking back yesterday's tweet telling Russia to "get ready" for a missile attack on its ally. The likelihood of US military intervention has been growing since reports last weekend of a poison gas attack on civilians by the Assad government.

Stocks rebounded sharply on the reduction in geopolitical tension, with the Dow jumping 1.3%, as investors shifted out of safe havens. Treasury yields also rose.

The dollar recouped 0.3%, breaking a four-day losing streak, as the Fed's March minutes, released late yesterday, reinforced the view that more rate hikes are coming this year. The committee was unanimous in expecting GDP and inflation to rise in coming months, though "a strong majority" viewed retaliatory trade policies as a serious downside risk to the economy.

The other precious metals were mostly lower, with silver and palladium dropping 1.8% and 0.2%, respectively, while platinum edged up less than 0.1%.

At the Comex close: June gold lost $18.10 to $1,341.90; May silver dropped 30 cents to $16.47; July platinum inched up 50 cents to $934.80; and June palladium dipped 80 cents to $959.15 an ounce.