Los Angeles CA, April 21 (Tangible Investments) – by James O’Dell – Gold and Silver prices were mixed in early trading on Friday as Gold edges higher ahead of French elections. Gold is up 0.11 percent to $1,283.10 an ounce after gaining $1.40 or 0.11 percent on Thursday to close at $1,281.70.

Silver is down 0.56 percent to $17.90 an ounce after easing $0.13 or 0.72 percent on Thursday to close at $18.00. The Gold/Silver ratio rose to 71.21. Platinum is up 0.10 percent to $979.00 an ounce. Palladium is down 0.37 percent to $799.00.

The yellow metal continues its consolidation ahead of French elections on Sunday and in the face of global tensions surrounding North Korea.

Investors Are On The Fence

“I would expect investors to stay on the fence… they would likely be market-watching rather than market-trading ahead of the French elections on Sunday, especially when there is no clarity,” said OCBC analyst Barnabas Gan. “Into the near term, if the geopolitical tensions intensify, there is a chance that Gold prices will reach $1,300 or more.”

With French election polls tightening, the presidential race has turned into a four-way race that is too close to call. The Sunday elections will be just the first round, the high scorers will head to second round on May 7.

President Trump Weighs In

President Trump even weighed in on the election with a tweet earlier today following another suspected terrorist attack in France. “Another terrorist attack in Paris. The people of France will not take much more of this. Will have a big effect on presidential election!”

Meanwhile, Treasury Secretary Mnuchin will soon be unveiling new tax reform proposals and expects them to be passed by year-end. His comments bolstered the equity markets and helped strengthen the dollar while adding a bit of pressure to Gold.

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