Precious metals, BTC soar on Asian tariff woes

Precious metals and bitcoin are soaring today on the slowdown in Asian manufacturing caused by the additional Trump tariffs that went into effect on Sunday.

Shanghai trading in gold, silver and the cryptocurrency soared as Chinese nationals look to get out of the depreciating yuan. Trading in Japan and South Korea followed suit with strong buying in the alternative asset to offset weakening currencies.

Silver rose 4.9% or $0.90 to $19.25

Gold was up 1.8% or $26.50 to $1,556

BTC soared 5% or $5.90 to $10,618

All prices in late afternoon trading in New York.