Silver Futures Market News and Commentary
June gold (GCM21) on Friday closed down -13.40 (-0.76%), and May silver (SIK21) closed down -0.260 (-1.02%).
Gold and silver prices on Friday posted moderate losses as strength in the dollar and higher T-note yields prompted long liquidation pressures in metals. A rally in the S&P 500 and Dow Jones Industrials to new record highs on Friday also curbed the safe-haven appeal of precious metals.
Eurozone data on Friday showed weakness in industrial activity that was negative for industrial metals demand. German Feb industrial production unexpectedly fell -1.6% m/m, weaker than expectations of +1.5% m/m. Also, French Feb industrial production unexpectedly fell -4.7% m/m, weaker than expectations of +0.5% m/m and the biggest decline in 10 months.
Dovish global central bank comments on Friday were bullish for precious metals. Fed Vice Chair Clarida said the Fed would await evidence on whether they are reaching their goals on price stability and... Read more