Los Angeles CA, April 19 (Tangible Investments) – by James O’Dell –  Gold and Silver prices edged lower in early trading on Wednesday as investors took profits. The dollar strengthened and Gold dips as geopolitical tensions abate. The yellow metal is down 0.43 percent to $1,283.70 an ounce after gaining $5.20 or 0.40 percent on Tuesday to close at $1,289.20.

Silver is down 0.19 percent to $18.22 an ounce after easing $0.12 or 0.65 percent on Tuesday to close at $18.38 an ounce. The Gold/Silver ratio rose to 70.60. Platinum is up 0.31 percent to $976.00 an ounce. Palladium is up 0.13 percent to $772.00.

Gold is taking a breather while the dollar regains strength, but geopolitical concerns continue to support the metals complex.

Investors Using Gold For Insurance

“Today’s move is just a bit of a pause because we are still seeing pretty decent investor interest in Gold,” said ETF Securities’ Martin Arnold. “Investors are still using Gold for insurance and defensive positioning because there are concerns over equity valuations and politics,” said Arnold.

Juerg Kiener, managing director of Swiss Asia Capital sees Gold moving higher by year-end. While acknowledging that Gold has traded flat over the past year, Keiner said on “Squawk Box,” Wednesday, that “from a fundamental point of view, I think we’re going to get a break out on the upside.”

According to Kiener, an emerging distrust towards the geopolitical behavior of the U.S. In the meantime, an increase in physical Gold purchases globally helps to make the bullish case for the precious metal.

European Elections Supporting Gold

Meanwhile, In Europe, investors remain concerned for the future of the euro ahead of French presidential elections on Sunday. Centrist Emmanuel Macron, who favors remaining in the European Union (EU), is favored to win. However, Macron’s challengers on both the far right, leader Marine Le Pen, and the communist Jean-Luc Melenchon, favor leaving the EU.

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