Money Will gold and silver continue to climb after Syria strikes?

22:57  16 april  2018
22:57  16 april  2018 Source:   The Motley Fool

Trudeau voices support for strikes on Syria

  Trudeau voices support for strikes on Syria LIMA, Peru - Canada stood behind its closest allies on Friday as the U.S., Britain and France launched airstrikes against Syria's government in retaliation for a suspected chemical-weapons attack that killed dozens of people. U.S. President Donald Trump announced the strikes in a national address, and promised Washington was prepared to "sustain" pressure on the Syrian government until it stopped killing its own people with banned weapons. Reporters U.S. President Donald Trump announced the strikes in a national address, and promised Washington was prepared to "sustain" pressure on the Syrian government until it stopped killing its own people with banned weapons.

Syria – Gold and silver spike 1% as oil rises 1.4% – Gold breaks 200 day moving average, 4th week of gains – Stocks fall after U.S. strikes in Syria Gold earlier climbed as much as 1.4 percent to its highest since Nov. 10 at ,269.30. Continue Reading / Gold Core>>>. Sharing is caring! Facebook.

That’s why gold grabbed a solid bid in the past few hours and is trading up to 46. It’s been bounced around this week on Syria threats and The downside is probably only erasing today’s gain today while the upside would be a climb to 65, or more if Russia shoots down missiles.

Editor’s note: The opinions in this article are the author’s, as published by our content partner, and do not necessarily represent the views of MSN.ca or Microsoft.

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On the night of April 13, President Donald Trump announced that the U.S. would conduct military strikes in Syria with its allies Britain and France. This was in response to an alleged chemical attack that the U.S. and it allies claim was committed by Syrian government forces. The Syrian government has denied the allegations. Russia, which has emerged as a close ally of the Bashar al-Assad government, warned of “consequences” that would emerge from escalating the conflict in Syria.

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The surge in gold and oil continues today, but the stock selloff is taking a breather as traders warily eye the developments in Syria . Missile attacks on Syrian government targets could begin as soon as Thursday, according to sources within the Obama administration.

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Putin predicts global 'chaos' if West hits Syria again

  Putin predicts global 'chaos' if West hits Syria again <p>Russian President Vladimir Putin warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions.</p>Russian President Vladimir Putin warned on Sunday that further Western attacks on Syria would bring chaos to world affairs, as Washington prepared to increase pressure on Russia with new economic sanctions.

That’s why gold grabbed a solid bid in the past few hours and is trading up to 46. It’s been bounced around this week on Syria threats and The downside is probably only erasing today’s gain today while the upside would be a climb to 65, or more if Russia shoots down missiles.

Heightened tension pushes Brent and gold up 1%, though the impact of the missile strike on oil supply will likely be limited according to analysts. Oil prices climbed Friday morning after U.S. missile strikes in Syria roiled financial markets and promised new tensions with key energy Silver Prices.

3.85
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S&P/TSX Composite

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15,294.39
+20.42
+0.13%
S&P/TSX Venture Composite

ISPVX

800.16
+4.22
+0.53%
S&P TSX 60

TSP60

901.63
+1.64
+0.18%

The Trump administration has assumed an increasingly aggressive stance toward Russia and its Syrian and Iranian allies in recent months. There is a strong possibility that President Trump will pull out of the Iran nuclear deal in the coming months. The administration will reportedly pursue additional sanctions on Russia on April 16. The escalation in the Middle East comes after the declaration from Secretary of Defense James Mattis late last year that “great power competition” had become the primary focus of U.S. geopolitical strategy.

The spot price of gold reached above $1,350 on the evening of April 15. Gold prices spiked above $1,360 and also rose in response to the Syria strikes before tapering off in the early weekend. The spot price of silver also increased on the news.

Jennifer Abel captures diving gold for Canada at Commonwealth Games

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Brent crude futures surged more than 2% after the US attack and were last up 1.5% at .72 a barrel. Gold earlier climbed as much as 1.4 percent to its highest since Nov. Gold and silver are jumping after the US missile strike on Syria (Business Insider).

Gold posted its first gain in four session as expectations for a U.S. military strike on Syria strengthened, boosting the metal's safe haven appeal. Gold and silver mining ETFs advanced during the day. The Market Vectors Gold Miners ETF (GDX) climbed 1%.

Since the election of Donald Trump, the spot price of gold has climbed 11%. The yellow metal experienced severe turbulence in the weeks following Trump’s election, as Wall St. and global markets responded extremely positively to the news, with special enthusiasm reserved for the promise of tax reform and deregulation. The S&P/TSX has dropped 5.7% in 2018 as of close on April 13. Investors may want to take a second look at precious metals, as the geopolitical situation takes an incendiary turn.

Kinross Gold Corporation (TSX:K)(NYSE:KGC) stock rose 1.26% on April 13 and on a month-over-month basis. In its fourth-quarter results, Kinross saw revenue and production dip year over year. The company expects production of 2.5 million gold ounces in 2018 and projects to be at or above this threshold over the next three years.

Overall silver production dropped 4.1% in 2017 according to the World Silver Report, which was released on April 12. This marks the fifth year in a row that production has declined. Demand also fell 2% in 2017.

Silvercorp Metals Inc. (TSX:SVM)(NYSE:SVM) climbed 3% on April 13 and has increased 4.5% in 2018 thus far. Silver prices have not fared as well as gold in 2018, in spite of the supply shortage. The drop in demand was mostly due to a decline in physical demand, with coin and bar investments falling 27% in 2017. With cryptocurrencies falling out of favour due to a massive drop in early 2018, it is possible that physical demand for precious metals will see an increase going forward, especially with rising geopolitical tensions.

Justin Trudeau rules out Canadian participation in military strikes against Syria

  Justin Trudeau rules out Canadian participation in military strikes against Syria Justin Trudeau rules out Canadian participation in military strikes against SyriaSpeaking to Radio-Canada, the prime minister said Canadian military personnel are already involved in missions in northern Iraq and Latvia and will be deploying to Mali. “We are not looking to be present in Syria,” Trudeau said in an interview.

conflict fears, Gold climbs to two-week high,Wall Street falls,Oil prices near 2014 highs over warnings of western air strikes against Syria -April 12th, 2018. Syria concerns overshadowed easing U.S.-China trade tensions a day after Beijing promised to open its economy and lower import tariffs on

U.S. gold futures also climbed 1 percent to ,266 an ounce. “Clearly this raises the stakes and we expect to see gold prices continuing to push higher in the short-term, at least until there is Stocks fell and safe-haven bonds and the yen jumped in Asia on Friday after the missile strike . [MKTS/GLOB].

Wheaton Precious Metals Corp. (TSX:WPM)(NYSE:WPM) rose 1.13% on April 13 and has climbed 4.6% in 2018 so far. Wheaton Precious Metals exceeded its production guidance for gold and silver production in 2017 and reported record gold sales volumes. The company hiked its dividend 29% year over year and declared a quarterly dividend of $0.09 per share, representing a 1.6% dividend yield.

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