11th July 2017

 We had a very quiet day in the markets on Monday in stark change to the high volatility that was evident in many complexes for much of last week. The precious metals group started the day lower, with gold getting to a four-month low early on before regrouping and finishing modestly higher. Silver tacked on $.20 to finish at $15.63, but it’s charts still look pretty miserable and at one point, prices sank to $15.16, their lowest levels since April of last year. Platinum struggled, finishing down a dollars $.60 and even breaking the $900 mark at one point during the day. Palladium ended firm, finishing at $839/ounce. We think the precious metals group was helped somewhat by the fact that the dollar rally seems to have stalled on Monday, while more importantly, yields on both sides of the Atlantic eased back as well.