July 22, 2019

After dipping nearly 2% on Friday, gold has found support around the $1,425.00 level as increasing tension between Iran and the UK and the U.S. helped boost metals as a safe haven asset, but much will depend on how the U.S. responds to Iran seizing a British oil tanker in the Strait of Hormuz. Silver, which is currently up $0.23, continues to chip away at the gold to silver ratio. The ratio has been as high as 93 in recent weeks but is now right around 86.9.