Coming up we dive into China with one of the foremost experts on the subject Gordon Chang. Gordon shares his thoughts on the U.S.-China trade war and why he believes it’s not likely to end anytime soon, talks about the pending economic catastrophe he sees in China and the effects it’s going to have on the global economy and, more importantly, for metals investors. You will not want to miss this incredibly in depth and fascinating conversation with the man nearly everyone goes to these days for an explanation of what’s really happening in China, Gordon Chang, coming up after this week’s market update.

Gold and silver prices have been on the move again this week. The metals continue to serve as a safe haven from trade wars, currency wars, plunging bond yields, and stock market volatility.

For the week, gold prices are up another 0.7% to bring spot prices to $1,509 per ounce. It’s down a bit today and is looking to hang on for a weekly close above the technically important $1,500 level. With a few hours here left in the trading week we’ll see if it can do that. Silver is higher by 0.6% since last Friday’s close to trade at $17.15. Platinum isn’t faring too well, down $20 or 2.3% to come in at $845. But its sister metal palladium shows a weekly gain of 1.5% and currently trades at $1,450 an ounce.

The Dow Jones Industrials, meanwhile, fell to a two-month low. When measured in terms of hard money – gold – the Dow actually fell to a two-year low. That puts it in bear market territory.

Although they are up here today, stocks did get clobbered mid-week on recession fears and interest rate abnormalities. On Wednesday, a critical part of the yield curve inverted for the first time since 2007.

The yield on the benchmark 10-year U.S. Treasury fell below the yield on the 2-year note. When this particular inversion has occurred in the past, it has reliably been followed by a recession. In fact, a yield curve inversion has preceded each of the last seven recessions.

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