Silver Futures Market News and Commentary
Dec Comex gold (GCZ20) on Monday closed up +11.7 (+0.58%), and Sep silver (SIU20) closed up +1.721 (+6.25%).
Precious metals on Monday moved higher after President Trump on Saturday took executive action to boost stimulus. Metals extended their gains when U.S./China tensions intensified, which sparked flight-to-safety buying of precious metals. Metals fell back from their best levels Monday after the S&P 500 rallied to a 5-1/2 month high, which curbed safe-haven demand for precious metals.
Saturday's action by President Trump to take executive actions to extend financial aid boosted demand for gold as a store of value since extra stimulus involves boosting the national debt. President Trump signed four executive orders, including extending unemployment benefits, eviction protection, student loan relief, and a temporary payroll tax deferral as Congress remains at an impasse on passing a new virus relief package.
Metals prices extended their gains Monday morning a... Read more