Precious Metals Recap - 4/7/2017 | RJO Futures

April 7, 2017 3:51PM CDT

June Gold closed up 3.6 at 1256.9. This was 4.5 up from the low and 16.4 off the high.

May Silver finished down 0.00236 at 0.1801, 0.0048 off the high and 0.00145 up from the low.

The bull camp has to be emboldened by last week's action in prices, and also because of the return of a major market theme in the form of geopolitical and economic uncertainty. If the dollar had not rallied today, the gains in the gold and silver markets might have been even more significant. With the potential for a reaction to the US bombing of Syrian air assets and Russia adopting a very hard line reaction to the events geopolitical anxieties are not likely to calm down quickly. While we doubt the US will continue to produce data fostering economic uncertainty, the March payroll data clearly increases the chances that Fed rate hike timing will be pushed backward and that should help gold, silver, platinum and palladium.

RJO Futures | 222 South Riverside Plaza, Suite 1200 | Chicago, Illinois 60606 | United States
800.441.1616 | 312.373.5478

This material has been prepared by a sales or trading employee or agent of RJO Futures and is, or is in the nature of, a solicitation. This material is not a research report prepared by RJO Futures Research Department. By accepting this communication, you agree that you are an experienced user of the futures markets, capable of making independent trading decisions, and agree that you are not, and will not, rely solely on this communication in making trading decisions.