Los Angeles CA, March 29 (Tangible Investments) – by James O’Dell – Gold and Silver prices were mixed in early trading on Wednesday, with Gold up 0.06 percent to $1,252.10 an ounce after easing $2.50 or 0.20 percent on Tuesday to close at $1,251.30 an ounce.

The price of Silver is down 0.36 percent to $18.10 an ounce after gaining $0.08 or 0.44 percent on Tuesday to close at $18.17 an ounce, while the Gold/Silver ratio fell to 68.87. Platinum is down 0.21 percent to $951.00 an ounce and Palladium is down 0.51 percent to $786.00.

Gold edged modestly higher in early trading on Wednesday amid growing uncertainty over whether President Trump can get any of his economic policies through a Republican led Congress. “The general picture is still positive with dips seen as buying opportunities,” said Carsten Fritsch, of Commerzbank in Frankfurt.

“There are a lot of uncertainties regarding the Trump reflation trade after the failure last week to overhaul Obamacare and uncertainty in Europe with French elections coming up and the official start today of Brexit negotiations.”

Britain Initiates Brexit

Today, Britain initiates Brexit, the British government triggered Article 50, the mechanism for Britain to exit the European Union (EU). “This is a historic moment from which there can be no turning back,” announced British Prime Minister Theresa May.

In Brussels, European Council President Donald Tusk said there was “no reason to pretend that this is a happy day,” adding that “most Europeans, including nearly half the British voters, wish that we would stay together, not drift apart.”

Gold To Hit $1500 An Ounce

Meanwhile, according to Incrementum AG, which maintains that Gold may be in the early stages of a bull market, the yellow metal is now poised to rally to levels last seen four years ago. Ronald-Peter Stoeferle, managing partner at Incrementum AG says that Gold prices could climb to $1,400 to $1,500 an ounce before the end of this year.

“The real pick up in momentum might start beginning of summer. It’s in the very early stages of the bull market, so everybody is still kind of cautious or slightly negative, but this will improve,” says Stoeferle.

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