Silver Sep '19 (SIU19)
Silver Futures Market News and Commentary
Jun Comex gold (GCM20) on Wednesday closed up +5.1 (+0.30%), and July silver (SIN20) up +0.162 (+0.92%).
Precious metals prices on Wednesday shook off early losses and finished higher as ramped-up U.S./China tensions boosted safe-haven demand for metals. Metals rallied Wednesday after Secretary of State Pompeo said the U.S could no longer certify Hong Kong's political autonomy from China, which could trigger U.S. sanctions against China. The Trump administration this week has already been considering a range of sanctions to punish China for its crackdown on Hong Kong. Also, the House of Representatives is ready to pass legislation that would sanction Chinese officials for human rights abuses against Muslim minorities. China has said it will retaliate for any U.S. action.
The Euro Stoxx 50 and the Nikkei Stock Index rallied to 2-1/2 month highs on Wednesday, which sparked optimism about the global economy and reduced the safe-haven demand for precious metals. European s... Read more
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