Gold futures closed higher on the day, with the most active Comex contract (December) currently up $5.40 at $1,208.30.

As was widely expected, yesterday President Trump made good on his word to implement an additional $200 billion in tariffs on Chinese goods imported into the United States.

As of 4:00 PM Eastern standard time, market participants continue to focus upon the current trade dispute between the United States and China as they await news from the administration in regard to whether the United States will impose additional tariffs.