Precious Metals Recap - 2/7/2017

February 7, 2017 3:39PM CST

April Gold closed up 3.5 at 1235.6. This was 6.4 up from the low and 1.9 off the high.

March Silver finished up 0.00022 at 0.17715, 0.0008 off the high and 0.00155 up from the low.

 

For April gold to have pinned its self to the Monday highs in the face of noted dollar strength would seem to suggest that the safe haven argument is gaining traction. Adding into the upward tilt in gold and silver were suggestions from
money managers touting gold as a hedge against the incendiary policies of the new administration. The whole safe haven argument was given a significant boost today following complaints on US trade and currency policies from ECB officials and the German economic minister.


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