September 2, 2020

Gold and silver both slipped today as a strengthening US dollar and record equity prices continued to put downward pressure on metals. Gold saw over a $50 swing from yesterday’s high and today’s low and silver dropped more than a $1.50 in the last 24 hours. Both metals are up slightly on the reopen, trading at $1940 and $27.42 respectively. Today’s ADP employment data came in far worse than expected but investors seem to be shrugging it off. Friday’s job report should be a better indicator of US recovery and will likely rattle what are already considered extremely volatile markets.