After trading to the highest closing price this year, on September 4^th  gold closed at approximately $1558. For the following five trading days gold pricing would soften to the lows of approximately $1492, before moving back above $1500.

According to the Associated Press, on Saturday the Iranian-backed Houthi rebels launched a drone attack against the world’s largest oil processing facility and a major oilfield in Saudi Arabia.

Risk-On Market Sentiment Pressures Gold and Silver