27th April 2016

The precious metals group finished mixed on Tuesday, with gold gaining some $3.20/ounce, while silver closed up $.15. There were modest declines in both platinum and palladium. Outside of the precious group, other markets finished mixed; oil was strong all day and continued to gain ground in after-hours trading on reports of an unexpected crude draw reported by the API. However, base metals finished mostly lower on China-based concerns and the lingering impact of higher transaction fees and higher margin requirements levied on several Chinese futures contracts. In addition, Chinese regulators announced earlier on Tuesday that trading hours for steel and iron ore contracts will be cut by two hours.

News article attributed to www.bulliondesk.com