Gold Market Recap - 8/19/2016

August 19, 2016 10:33AM CDT

December Gold closed down 12.8 at 1344.4. This was 2.4 up from the low and 13.5 off the high.

September Silver finished down 0.0045 at 0.1929, 0.0051 off the high and 0.0007 up from the low.

Lukewarm risk sentiment going into the weekend put precious metals on the defensive with both gold and silver posting moderate losses for Friday's trading session. In spite of positive data from Japan and Germany, reports that a "Brexit" could come sooner than later cast a long shadow over global markets. Although gold kept within its recent consolidation zone, silver broke below its 50-day moving average and reached a new 1 1/2 month low. The PGM's ran out of steam heading into the weekend as platinum outperformed palladium to the downside.

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