Los Angeles CA, April 7 (Tangible Investments) by James O’Dell Gold and Silver prices rallied sharply in early trading on Friday, with Gold up 1.06 percent to $1,264.90 an ounce after President Trump bombs Syrian airbase and after easing $3.80 or 0.30 percent on Thursday to close at $1,251.60 an ounce.

The price of Silver is up 0.74 percent to $18.38 an ounce after gaining $0.18 or 1.00 percent on Thursday to close at $18.24 an ounce. The Gold/Silver ratio fell to 68.62. Platinum is up 0.42 percent to $960.00 an ounce. Palladium is down 0.12 percent to $803.00.

President Trump Orders Strike On Syria

Gold surged in early trading on Friday after President Trump bombs Syrian airbase in response to a deadly chemical attack. The airbase, controlled by Syrian President Bashar al-Assad, was used this week to launch a deadly chemical attack on civilians. The missile strike by USS Ross and Porter was the first direct intervention by the U.S. in Syria’s civil war.

“Clearly this raises the stakes and we expect to see Gold prices continuing to push higher in the short-term, at least until there is some clarity around whether this is a one-off or develops into something more,” said ANZ analyst Daniel Hynes.

Some think President Trump’s strike on Syria was a not-so-veiled warning to North Korea about its ballistic missile testing.

Thursday, on his way to Florida, aboard Air-Force-One to meet with Xi, President Trump said North Korea was top priority. Trump said China will “want to be stepping up” to deter North Korea’s nuclear ambitions.

“My initial thoughts are the new president (Trump) is sending a big message to the Chinese about their willingness to act on North Korea as well with this strike,” said Jeffrey Halley, senior market analyst at OANDA.

March Jobs Report Miss

Meanwhile, the Bureau of Labor Statistics said only 98k jobs were created in March, well below economists’ expectations of 174k. The March jobs report showed the weakest growth in jobs since May 2016.

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