Precious Metals Recap – 9/13/2017Posted 09/13/2017 3:36PM CT |
December Gold closed down 6.3 at 1326.4. This was 1.9 up from the low and 14.1 off the high.
December Silver finished down 0.00055 at 0.17835, 0.0029 off the high and 0.0011 up from the low.
Precious metal saw an abrupt change of fortune as they gave up moderate early gains and fell into negative territory during Wednesday’s trading. Both gold and silver benefited from safe-haven inflows during the overnight session as well as from lukewarm readings for the US PPI and UK average earnings. However, that strength evaporated quickly when the Dollar rebounded sharply to the upside following positive comments from the White House over potential tax reform measures. Both PGM’s gave up modest early gains and fell back into negative territory as platinum reached a new monthly low.