Precious Metals Recap – 4/11/2017 | RJO FuturesPosted 04/11/2017 3:32PM CT |
June Gold closed up 21.5 at 1275.4. This was 20.7 up from the low and 2 off the high.
May Silver finished up 0.0038 at 0.18295, 0.0003 off the high and 0.00385 up from the low.
Gold and silver prices spiked higher today in the face of heightening geopolitical concerns toward Syria and in particular toward North Korea. Suggestions from the US Secretary of State that he sees no future for the current Syrian leader combined with his visit to Russia could result in moves to change the regime in Syria and that might increase uncertainty throughout the Middle East. Another issue contributing to the strength in the gold and silver markets is growing concerns toward the French election where some minority candidates have hinted a desire to exit the euro zone. It is also likely that a noted reversal in slide in the dollar index provided safe haven gold and silver currency related buying interest.