21st August 2017

 Gold prices soared to a nine-month high on Friday, getting to a high of $1306/ounce of one point before retracing to finish slightly lower and back below the psychologically significant $1300/ounce mark. Gold’s reversal pulled silver down as well, with prices here ending below the $17/ounce mark. Platinum and palladium ended at just about unchanged, while base metals values finished mixed. Oil had a very good day, gaining about $1.50 basis WTI on reports of a rig count decline and a slight dip in Nigerian exports. Nevertheless, the CFTC reports that hedge funds cut their overall long exposure in WTI for a second straight week