Los Angeles CA, September 13 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed on Wednesday as Gold rebounds then dips again as dollar strengthens. Gold is down 0.77 percent to $1,321.10 an ounce after gaining $4.40 on Tuesday to close at $1,331.40 an ounce.

Silver is down 1.12 percent to $17.68 an ounce after adding $0.12 on Tuesday to close at $17.88. The Gold/Silver ratio fell to 74.46. Platinum is down 1.21 percent to $976.00 an ounce. Palladium is down 1.48 percent to $932.00 an ounce.

Gold edged higher in early trading on Wednesday, but turned lower after the dollar strengthened mid-day. Investors were quick to exploit the dip in Gold prices after Friday’s 13-month high and the resultant profit taking on Monday.

“Geopolitical trouble hasn’t disappeared and the U.S. political landscape is still fraught with difficulties,” says Societe Generale’s Robin Bhar. “When Gold drops almost $40, a lot of investors see that as a good level at which to buy back in.”

North Korea remained defiant on Wednesday in the face of new U.N. sanctions, calling the resolutions an infringement on its legitimate right to self-defense. North Korea said the sanctions were aimed at “completely suffocating its state and people through full-scale economic blockade.”

China’s foreign ministry again called for restraint and a return to dialogue. “We hope all relevant parties can be rational and maintain restraint and not take actions that could further increase tensions on the peninsula,” said ministry spokesman Geng Shuang.

Meanwhile, just last week Jeb Handwerger, of GoldStockTrades.com said “All of the ingredients to break $1,400 are there—our debt is out of control and our deficit could skyrocket, especially with infrastructure plus military spending,” on the back of a possible confrontation with North Korea.

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