23rd May 2017

We had a generally firmer session in most markets on Monday, with gold tacking on a $7.80/ounce gain to finish at just over $1260. Silver did even better, adding some $.40/ounce to finish over $17/ounce, while platinum rose by $10.50/ounce. Palladium has been struggling lately and finished at just about flat. We also saw decent advances in base metals, ferrous metals, and oil. The energy markets have been strong for some time now ahead of Friday’s OPEC meeting where another extension to the recent cuts will likely be approved. Although global inventories have yet to show signs of any meaningful decline, investors are hoping that OPEC will be able to keep the pressure on and force stocks to finally head lower.