Precious Metals Recap – 5/19/2017 | RJO FuturesPosted 05/19/2017 3:35PM CT |
June Gold closed up 2.2 at 1255. This was 8.9 up from the low and 1.4 off the high.
July Silver finished up 0.0017 at 0.1684, 0.0003 off the high and 0.00275 up from the low.
While the gold market forged fairly impressive gains early in the week it clearly lost momentum and spent a large portion of the Friday trade in negative territory as compared to the Thursday trade. With the US dollar coming under significant additional pressure at the end of the week some gold bulls might have been discouraged by the action today. Traders might begin to shift their attention toward silver which has seen a lengthening pattern of inflows into ETF holdings and silver along with platinum could benefit in the event the risk on sentiment manages to extend into the coming week.