The white metal jumped higher decisively, rallying above the June highs and the SLV ETF soared.

Palladium still the highest valued precious metal.

The Pentagon wants miners to describe plans to develop U.S. rare earths mines and processing facilities, and asked manufacturers to detail their needs for the minerals.

Donald Trump said in a memorandum on Saturday he did not concur with the investigation that found uranium imports threaten to impair U.S. national security.

Despite the implications of U.S.-imposed sanctions, Trump squarely put the blame on OPEC for this period of rising oil prices.

There are high chances of the U.S. recession arriving somewhere between the second and the fourth quarter of 2020.

Price momentum and structural economic reforms in India and China will also be key demand drivers.

If Congress rewrote the laws to force the Fed to operate monetary policy so as to stabilize gold's value in dollar terms, Powell said, unemployment could rise or inflation could swing wildly.