Precious Metals Recap – 7/21/2017Posted 07/21/2017 3:41PM CT |
August Gold closed up 9 at 1254.5. This was 11.7 up from the low and 1.4 off the high.
September Silver finished up 0.00125 at 0.1647, 0.0004 off the high and 0.0019 up from the low.
As indicated in treasury market and currency market coverage today, a safe haven environment continues to remain in place. In fact, weakness in the dollar continues at a pace that could bring about central bank intervention and that would foment additional safe haven interest. While the gold and silver markets did not seem to focus on the ongoing soap opera in Washington, the majority of headlines from that source should favor the bull camp in precious metals. About the only thing missing from the bull case in gold and silver this week was noted selling and anxiety in the equity markets.