Precious Metals Recap - 2/2/2017 | RJO Futures

February 2, 2017 3:52PM CST

April Gold closed up 9.8 at 1218.1. This was 7.9 up from the low and 9.4 off the high.

March Silver finished up 0.0003 at 0.1748, 0.00265 off the high and 0.00065 up from the low.

 

After forging another upside breakout, April gold fell back from its highs in a manner that presents a slightly bearish tilt for the last trading session of the week. Similarly, the March silver contract also forged a fresh upside breakout and made an even more significant reversal from the highs. The early gains were more than likely the result of significant early dollar declines but with a reversal in the greenback toward the close, it's not surprising to see profit-taking in both gold and silver from the highs. The bull camp has to be a little disappointed that ongoing uncertainty from the Iranian missile test failed to provide lasting support directly underneath today's highs.


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