Gold and silver both retreated on Wednesday for a third straight session, but platinum and palladium fell much harder, losing roughly $11/ounce and $23/ounce respectively. Once again, a stronger dollar, at least early on in the day, drove gold lower. The greenback has now rallied for five days in a row on account of relatively decent US macro news, coupled with an imminent announcement of a Fed chairman. On that latter point, President Trump said that he will reveal his choice from among five candidates over the “next few days”, with the front-runner (at least according to the latest financial polls) being Jerome Powell, a Fed governor who is seen to be more dovish than some of the other names bandied about.
|Precious Metals Daily Report --- October 19 2017.pdf||456.57 KB|