Gold and Silver Pull Back — Smart Money Buys When Others Wait 
Gold experienced its second day of decline, falling up to 2.6% from its recent record high of over $3,500 per ounce. The selloff began Tuesday as investors collected profits from the steep rally and accelerated when President Trump eased market concerns on two fronts: backing away from threats to remove Fed Chair Jerome Powell and making conciliatory comments about China trade relations, stating that tariffs “will come down substantially but won’t be zero.”
Despite the current pullback, gold has gained more than 25% this year due to several factors: ongoing trade tensions with China, expectations of global economic slowdown, and friction between the Trump administration and the Federal Reserve. The precious metal’s rise has been further supported by increased holdings in exchange-traded funds and central bank purchases. As of the latest trading, gold was at $3,320.85 an ounce, while silver recovered from early losses to rise 1.2%.
