Precious Metals Recap - 11/27/2017

November 27, 2017 3:39PM CST

December Gold closed up 6.4 at 1293.7. This was 7.5 up from the low and 5.3 off the high.

December Silver finished up 0.00023 at 0.17015, 0.00155 off the high and 0.00035 up from the low.

 

Performance in the gold market was very impressive today especially since the silver market failed to show commensurate bullish action. Some traders have suggested that a dovish incoming US Fed chairman will serve to keep the dollar under pressure at the same time that the number of rate hikes next year will be held down. However the inability to keep the dollar down consistently could catch the gold market overbought especially if the psychologically important $1,300 level becomes difficult to hold above.

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.