Precious Metals Recap – 9/28/2017Posted 09/28/2017 3:38PM CT |
December Gold closed up 2.1 at 1289.9. This was 9.5 up from the low and 1.7 off the high.
December Silver finished up 0.00068 at 0.16895, 0.0003 off the high and 0.0019 up from the low.
The precious metals were able to bounce back from early pressure as they went on to post modest gains for Thursday’s trading session. This week’s Dollar up move appears to have run out of near-term steam as support from a hawkish Fed and US tax reform measures faded while US economic data had mixed results, which in turn gave both gold and silver a near-term boost. However, a lack of fresh rhetoric from North Korea kept safe-haven inflows to a minimum and limited near-term upside for both precious metals.