25th April 2018

 Tuesday was quite a day of crosscurrents in the various markets, although volatility was somewhat reduced from what we saw earlier in the week, especially in the commodity markets. Gold prices eked out a modest $6/ounce gain, snapping a three-day losing streak, while silver and platinum gained slight ground. Palladium lost value, off another $8/ounce and briefly getting to a two-week low of $955/ounce. Elevated US treasury yields, now hovering at around 3%, continue to cap gold’s upside potential, as is a stronger dollar, which hit a seven-week high basis a general dollar index. However, the fact that neither the dollar or US rates pushed substantially higher on Tuesday likely allowed gold to enjoy a bit of a technical bounce after several down days. 

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