Silver Micro Futures Market News and Commentary
Dec Comex gold (GCZ20) on Thursday closed up +20.80 (+1.10%), and Dec silver (SIZ20) closed up +0.760 (+3.22%).
Precious metals prices on Thursday rallied sharply with gold at a 1-week high. A decline in the dollar index Thursday to a 1-week low pushed metals prices higher. Mixed U.S. economic data on Thursday was neutral for metals prices, although an increase in U.S. and European inflation reports was positive for gold prices.
The dollar was weaker Thursday, and was positive for metals prices as stocks rallied on hopes that U.S. lawmakers may finally agree on a new pandemic stimulus package. Optimism improved after House leaders postponed a vote Wednesday on Speaker Pelosi's $2.2 trillion stimulus plan to give Treasury Secretary Mnuchin and House Speaker Pelosi one more day to negotiate a compromise relief package.
Thursday's U.S. economic data was mixed for metals prices. Bullish for gold and negative for industrial metals demand and silver prices was the Sep... Read more