Gold

Gold gained 0.13 percent at $1,225.70 per ounce on Tuesday as the U.S. dollar slipped and market watchers anticipated U.S. economic growth data on Friday. The dollar index, which measures the greenback against a basket of six major currencies, fell 0.2 percent to 94.59 after touching a one-year high last week.

Market watchers largely expect second-quarter U.S. economic growth to top current forecasts of 4.1 percent. But if there's any kind of whiff in those numbers, we could see a spike in gold. Gold has shed more than 10 percent since April. Last week it hit a one-year low.

The Trump administration on Tuesday said it will use a Great Depression-era program to pay up to $12 billion to help U.S. farmers weather a growing trade war with China, the European Union and others that the president began. It is a clear signal the U.S. President Donald Trump is determined to stick with tariffs as his weapon of choice in the conflict. The president reaffirmed his support for tariffs.

An escalating trade war is expected to trigger a downward trend for non-dollar currencies, weighing on gold prices.

Silver

Silver rose 0.8 percent at $15.50 per ounce. Tracking gold after the dollar pulled back, it tested the 10-day moving average of 15.55.

On weekly chart, silver has fallen for six weeks, without signs of bottoming up this week. Investors shall closely watch the support at $15.4.

Dealing Room, ICBC Beijing Branch
                       Lv Yan