Precious Metals Recap - 11/30/2016

November 30, 2016 9:42AM CST

February Gold closed down 15.7 at 1175.1. This was 3.8 up from the low and 21.7 off the high.

March Silver finished down 0.00175 at 0.16565, 0.00265 off the high and 0.001 up from the low.

Not surprisingly the gold and silver trade came under fresh selling pressure in the wake of the noted rally in the Greenback in the 3rd trading session of the week. Ideas that the Dollar might go even higher clearly justifies the new low for the move in gold this week. With mostly positive US data and new highs in Treasury yields, there are a number of bearish outside market forces weighing on gold and silver prices. The trade also continues to fear further liquidation in gold and silver derivative holdings as prices sag and negative outside market forces surface in the headlines.

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