Precious Metals Recap – 9/8/2017Posted 09/08/2017 3:33PM CT |
December Gold closed up 1 at 1351.3. This was 4.2 up from the low and 11.1 off the high.
December Silver finished down 0.00071 at 0.18045, 0.00245 off the high and 0.0008 up from the low.
The precious metals fell back from their early highs and closed near unchanged levels midway for Friday’s trading session. The North Korean situation remains unresolved and Hurricane Irma heads toward Florida, both of which continue to provide both metals with underlying safe-haven support. However, a rebound in the Dollar has triggered profit-taking and long liquidation in gold and silver. Both PGM metals fell back on the defensive in spite of bullish South African near-term supply news, with platinum holding the upper hand on palladium.