Precious Metals Recap – 6/23/2017Posted 06/23/2017 3:33PM CT |
August Gold closed up 7.4 at 1256.8. This was 6.2 up from the low and 3.2 off the high.
July Silver finished up 0.00166 at 0.16675, 0.00085 off the high and 0.0016 up from the low.
The precious metals were able to extend their late-week rebound by posting moderate gains during Friday’s trading session. A sluggish Dollar which reached a new 4-session low in spite of better than expected US data provided underlying support for gold and silver. However, a mild “risk on” tone has led to a dampening of safe-haven support for precious metals going into the weekend. The PGM sector continued to its recent divergent price action as palladium fell more than $30 below a new 2-week high while platinum ground out a modest gain.