Gold

Dollar weakness coupled with a risk-off market sentiment have been highly supportive of gold pricing today. Both the S&P 500 and the Nasdaq Composite closed in essence unchanged, while the Dow Jones industrial average closed lower, creating a risk-off market environment favoring the safe haven asset class.

There has been a lot of positive comments coming out of Washington vis-à-vis President Trump this week. According to the president It seems as though negotiations between the United States and China had made substantial headway.

Both gold and silver traded sharply lower, before recovering and closing in positive territory. Gold futures basis the most active June Comex contract traded to an intraday low of $1284.90 before recovering. As of 4:00 PM Eastern standard time gold futures are currently up $2.20 and fixed at $1297.50.

An odd mixed bag in the precious metals’ markets today, with gold and palladium trading lower, and silver and platinum trading higher. This all with dollar weakness providing tailwind support for all metal prices.

We have a mixed bag in the precious metals today with gold and palladium trading higher on the day but platinum and silver trading lower. In terms of percentage gains, once again it is palladium that is leading the way.