Metals Close
Metals traded higher across the board, with Gold and Silver well bid off of USD weakness and lower bond yields. Gold surged to an intraday high at 925.60 shortly after this morning’s data before consolidating with a narrow range between 915 and 917 in the middle of today’s range. Gold, up 1.2% to 913.90, has unable to break through its 9-Day moving average and closed below the coincident range (920-925) from the end of last week.
Silver, up 1.8% to 17.77, mirrored movements in gold for most of the day and closed in the middle of today’s range with support above its 9-Day moving average at 17.62.
Platinum, up 1.5% to 1764, closed in the mid to upper portion of today’s range but below its 9-Day moving average and within narrow range since July 24th.
Copper, up 0.5% to 366.45 closed in the mid to lower portion of today’s range which was bound by the 200-Day moving average at 371.25 and the 9-Day moving average at 363.57.