Los Angeles CA, May 12 (Tangible Investments) — by James O’Dell — Precious metals prices rose in early trading on Friday as Gold rises on growing political uncertainty in the U.S. Gold is up 0.45 percent to $1,230.30 an ounce after gaining $6.00 on Thursday to close at $1,224.80.

Silver is up 0.77 percent to $16.43 an ounce after gaining $0.12 on Thursday to close at $16.30. The Gold/Silver ratio fell to 75.14. Platinum is up 0.44 percent to $920.00 an ounce. Palladium is up 0.62 percent to $806.00 an ounce.

Gold extended gains in early trading on Friday following President Trump’s sudden firing of FBI Director James Comey this week.

President Tweets Message

The President added to the political uncertainty surrounding the director’s firing by tweeting this message earlier today. “James Comey better hope that there are no ‘tapes’ of our conversations before he starts leaking to the press!”

Some are calling it a threat to the ex-FBI director from the president. The president’s tweet comes after calling Comey a “showboat,” in an interview with NBC’s Lester Holt on Thursday.

The attack on Comey was quickly rebuffed by acting FBI Director Andrew McCabe. The acting director promised that any investigation into possible Trump campaign ties to Russia would continue unaffected by Comey’s dismissal.

The White House continues to downplay the inquiry into Russian involvement in the elections. Acting Director McCabe called it a highly significant investigation.

What The President Says Is Important

“Whatever Trump says is important and is affecting the markets and may influence Gold prices for the short-term,” said OCBC analyst Barnabas Gan.

Meanwhile, CME Group’s FedWatch shows the odds of an interest rate increase in June fell to 78 percent. The rate increase expected in December just fell below 50 percent, so it could be in doubt.

It’s important to protect your hard earned wealth during these times of economic and geopolitical uncertainty. At Tangible Investments, it doesn’t matter whether you’re new to precious metals or a seasoned veteran, you will always be dealing with top industry experts.

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