Precious Metals Recap - 9/6/2016

September 6, 2016 10:35AM CDT

December Gold closed up 27.5 at 1354.2. This was 28.7 up from the low and 3 off the high.

December Silver finished up 0.00764 at 0.2013, 0.0009 off the high and 0.0075 up from the low.

The ongoing realization that the US Fed won't be able to hike interest rates this month allowed the bull camp to push up gold and silver prices to start the holiday shortened trading week. In fact, with soft service sector data from the US that was taken by the trade as further confirmation that the Fed will be handcuffed until the December Fed meeting. Adding into the upward track in precious metals prices was developing weakness in the US Dollar.


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