The precious metals had a mixed performance that saw them dip ahead of the weekend. Gold traded near the $1850 level seeing the only significant change on the last day of the week. Silver stayed above the $25 level for the most part but couldn’t cut above $26. Overall, it was a dull week for most market players, more so short-term minded traders.

Summary

Monday 11^th

Gold started off trading at $1,848.07 USD ($2,381.46 AUD) on the first session of the week. Meanwhile, silver exchanged hands at $25.11 USD ($32.36 AUD).

Tuesday 12^th

Gold and silver markets showed some upward momentum, with the former pushing 1.83% up to $25.57 USD ($32.95 AUD). Gold gained 0.38% to climb to $1,855.15 USD ($2,390.58 AUD).

Wednesday 13^th

The precious metals gave up their gains from Tuesday. Gold plunged 0.365% to $1,848.38 USD ($2,381.86 AUD), settling below $1850 for the first time during the week. Despite action from bulls to stabilize the market, silver dipped 0.86% to $25.35 USD ($32.67 AUD).

Thursday 14^th

Selling pressure from shorter-term traders saw gold lose, even further, dropping to $1,846.85 USD ($2,379.89 AUD). Silver settled at $25.56 USD ($32.94 AUD), recording a 0.83% gain on the previous day.

Friday 15^th

Both metals nosedived as the week drew near the end. Gold dropped off the $1,840 level falling to $1,827.11 USD ($2,354.45 AUD) following a 1.07% tumble. Bearish market forces saw silver slump 3.13% to settle at $24.76 USD ($31.91 AUD).

Sam Grant

https://www.linkedin.com/in/sammie-grant/