We had another wild day in the markets on Wednesday, with gold very much tracking the ups and downs of US equities. The Dow rallied by more than 300 points at one point, with this high not surprisingly coinciding with gold’s intraday low of $1313/ounce, a loss of $20/ ounce on the day. However, the gains in equities eroded by day’s end as the Dow went on to lose roughly 20 points on the session. As the selling in stocks intensified, gold managed to rally by about $10 off its lows to finish down by only $6/ounce by the end of the day -- at about $1320. Silver very much tracked gold’s trajectory, fluctuating between a low of $16.21–$16.73, before ending down $.26 at $16.32.
|Precious Metals Daily Report --- February 8 2018.pdf||426.04 KB|