Precious Metals Recap – 9/19/2017Posted 09/19/2017 3:30PM CT |
December Gold closed up 3.5 at 1314.3. This was 5.6 up from the low and 1 off the high.
December Silver finished up 0.00189 at 0.17345, 0.0003 off the high and 0.00185 up from the low.
After a quiet overnight and morning session, the precious metals volatile price action before finishing Tuesday’s trading in positive territory. A suspicious package found in London’s financial district caused a mild uptick in risk aversion that led to a fresh boost in safe-haven support. While markets are nowhere near a “risk on” mood in front of tomorrow’s FOMC meeting results, sentiment was able to recover which in turn eroded support for gold and silver both fell back towards unchanged levels. The PGM sector was squarely on the defensive during today’s trading, however, as both platinum and palladium have slid down to new lows for the move.