Precious Metals Recap - 7/5/2017

July 5, 2017 3:37PM CDT

August Gold closed up 6.5 at 1225.7. This was 9.2 up from the low and 2.7 off the high.

September Silver finished down 0.00042 at 0.1605, 0.0014 off the high and 0.002 up from the low.

 

The precious metals had a subdued reaction to the flare-up of risk concerns following the North Korean missile test as gold was only able to grind out a modest gain for Wednesday's trading session. While the Dollar found mild support this morning, it was still able to reach a new 1-week high which ended up weighing on many commodities. While gold was able to bounce off a new 3 1/2 low into positive territory, silver remained squarely on the defensive as it reached its lowest price level since late December. Both PGM metals were under pressure as platinum outperformed palladium due in part to spread unwinding.

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.