Los Angeles CA, April 28 (Tangible Investments) – by James O’Dell – Precious metals prices edged modestly higher in early trading on Friday after a weaker than expected GDP boosts Gold. The yellow metal is up 0.25 percent to $1,266.70 an ounce after easing $5.50 on Thursday to close at $1,263.50.

Silver is up 0.46 percent to $17.31 an ounce after tumbling $0.26 on Thursday to close at $17.23 an ounce. The Gold/Silver ratio rose to 73.33. Platinum is up 0.74 percent to $949.00 an ounce. Palladium is up 0.86 percent to $822.00 an ounce.

Bargain Hunting And Short Covering

Gold edged higher in early trading Friday on bargain hunting and short covering after first quarter GDP disappointment. Advance estimates of first quarter gross domestic product (GDP) show the economy expanded just 0.7 percent to start the year. It was the worst showing by the economy since the first quarter of 2014 when GDP contracted by 1.2 percent.

Another boost for Gold was first quarter data indicating rising inflation after the GDP price index climbed 2.3 percent. That was up from 2.1 percent reached in the fourth quarter of 2016 and also beat the 2 percent forecast. “The US economy appears to have hit a bump in the road during the first quarter of the year,” said Royce Mendes, senior economist at CIBC World Markets.

President Trump Speaks Again Of North Korea

Meanwhile, there is growing concern over the possibility of future conflict with North Korea after recent comments by the president. In an interview with Reuters on Thursday, President Trump acknowledged that a major conflict with North Korea is still possible.

“There is a chance that we could end up having a major, major conflict with North Korea. Absolutely,” said Trump. “We’d love to solve things diplomatically but it’s very difficult,” said the president. The president has new economic sanctions in mind but says he will not take the military option off the table.

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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