The US stock market rebounded smartly on Monday for its second consecutive triple-digit gain, with the Dow finishing up by roughly 410 points. The NASDAQ and S&P-500 each ended 107 and 36 points higher as well. Although we have had two days of strong gains, it remains unclear whether we can consider the market correction to be over just. Instead, there likely will be several more days of backing and filling before stocks finally settle into a more stable trading pattern. Somewhat surprisingly and despite the stronger finish in US stocks, gold rose impressively over the course of the day, finishing up by roughly $9.40 an ounce to end the day at $1325/ounce. Silver did even better on a percentage basis, gaining to about $.36 to finish at $16.50/ounce. Both platinum and palladium rose by $11.20 and $15/ounce respectively, teeing off the stronger performance seen in base metals.
|Precious Metals Daily Report --- February 13 2018.pdf||419.47 KB|