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Gold, Silver Markets Tread Water, Awaiting New InputsGold and silver market prices are not straying far from unchanged in midday trading Monday. Gold got a bit of a safe-haven bid overnight due to rising tensions between the U.S. and Iran. However, those gains were lost during the U.S. day session as trader and investor attitudes are still generally upbeat amid U.S. stock index prices that are trending higher and not far below their record highs scored last fall. June gold futures were last up $0.60 an ounce at $1,276.60. May Comex silver was last up $0.005 at $14.96 an ounceThe U.S. is ratcheting up its economic sanctions on Iran. The U.S. intends to eliminate waivers it had granted to some countries that imported Iranian crude oil. Oil prices pushed to a six-month high on the news. The U.S. and Iran have seen their already very strained relations deteriorate further under the U.S. Trump administration.
A further, significant deterioration in this situation would likely find better safe-haven demand for gold and silver markets.
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