Gold and silver pulled back on Friday but ended the week up sharply higher. The flight path for gold, which has been almost parabolic, infers some correction was possible.
After President Trump’s executive order limiting business with Chinese-owned WeChat and TikTok apps, initially lent some support to bullion. But then the gold sell-off started in Asia despite a weaker equity market which was unable to underpin gold as perhaps the massive write-down on the widely held Tencent may have triggered some gold selling in Asia to cover margins.
Still, on balance, gold prices were relatively steady in both Asia and Europe.
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