Los Angeles CA, August 18 (Tangible Investments) — by James O’Dell — Precious metals prices were mixed in early trading on Friday after Spain terror attack sparks safe haven Gold demand. Gold is up 0.78 percent to $1,297.50 an ounce after gaining $4.70 on Thursday to close at $1,287.50 an ounce.

Silver is up 0.71 percent to $17.13 an ounce after easing $0.10 on Thursday to close at $17.01 an ounce. The Gold/Silver ratio rose to 75.69 as Gold outperformed Silver. Platinum is up 0.82 percent to $981.00 an ounce. Palladium is trading flat at $915.00 an ounce.

The yellow metal extended its rally for a third day in early trading Friday, breaking above $1,300.00 an ounce. The yellow metal remains on pace for a second straight weekly gain, bolstered by a grisly terror attack in Spain. A suspected Islamist militant used a van to mow down pedestrians in Barcelona killing thirteen and injuring one-hundred.

“There is clearly more for financial markets to be concerned about,” said Danske Bank’s Jens Pedersen. The analyst was referring to the uncertainty now surrounding U.S. politics and the Spain attack. “That has led to a risk-off environment, and that’s supportive for Gold,” added Pedersen.

“The risk factors, including the Trump administration, geopolitical tensions and diplomatic crises, all are now in an evolving state. I don’t think they have been solved or discounted yet,” said Mark To, of Hong Kong’s Wing Fung Financial Group.

Concerns About Administration Ability To Advance Agenda

Concerns about the Trump administration’s ability to advance the President’s agenda have grown after the disbanding of two advisory councils.

“The ongoing discord coming out of Washington could prove supportive for Gold as well, as this could pressure the dollar further just as the Fed is casting fresh doubts about its rate timetable,” said INTL FCStone analyst Edward Meir.

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