Silver Micro Futures Market News and Commentary
Jun Comex gold (GCM20) on Friday closed up +13.6 (+0.79%), and July silver (SIN20) closed up +0.329 (+1.89%).
Metals prices on Friday posted moderate gains, despite a stronger dollar, as an escalation of U.S./China tensions boosted the safe-haven demand for precious metals. Metals also gained on expectations for the world's central banks to keep expanding their monetary stimulus measures.
Rising U.S./China tensions fueled safe-haven demand for metals, after China announced plans to impose a national security law on Hong Kong. President Trump said the U.S. would "respond strongly" to a planned move by China to crack down on protests and democratic movements on Hong Kong.
Concerns about growth prospects may prompt global central banks and governments to expand their stimulus measures, which could boost demand for gold as a store of value. China refrained from setting a growth target for this year at the National People's Congress. Chinese Premier Li Keqiang said t... Read more