19th July 2017

Commodity markets finished generally higher on Tuesday, as the dollar sank to a ten-month low against a basket of currencies. Against both the Euro and the Swiss franc, the dollar hit a one-year low, although it held up somewhat better against both the yen and sterling. Gold, which already was helped by improving technicals highlighted in Monday’s note, finished up by $8.20/ounce to end at a two-week high. Silver rose by $.17 to end the day at $16.09, but platinum and palladium sat things out, ending slightly lower on the day.