Precious Metals Recap – 7/6/2017Posted 07/06/2017 3:49PM CT |
August Gold closed up 2.7 at 1224.4. This was 2.6 up from the low and 5.1 off the high.
September Silver finished up 0.00109 at 0.16005, 0.00075 off the high and 0.00095 up from the low.
The precious metals have been able to grind out modest gains during Thursday’s trading session, although both gold and silver remained firmly at the bottom end of their recent downmoves. While a sluggish Dollar provided a source of underlying support, the rebound in energy prices led to a minor “risk on” mood that has caused safe haven outflows. Indications of lukewarm Indian jewelry demand have also caused headwinds for the precious metals markets. PGM metals have kept within tight ranges, although platinum continued to have the upper hand on palladium due to spread unwinding.