Gold Market Recap - 9/23/2016

September 23, 2016 10:34AM CDT

December Gold closed down 3.5 at 1341.2. This was 3.8 up from the low and 3.3 off the high.

December Silver finished down 0.00349 at 0.1975, 0.00275 off the high and 0.00085 up from the low.

The gold market was under only modest pressure today considering periodic strength in the Dollar, noted weakness in crude oil prices, hawkish talk from the Fed and talk of new Fed Bank regulations that might require more significant capital to trade and gold physical commodities. We also think that the gold market net and spec fund positioning adjusted to this week's high might be a record long positioning.

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