Good Morning,
A
positive start to the week on what could be a rather quiet session
heading into the end of the month. However, market participants won’t be
able to call it a month just yet as mid-week brings about some pretty
important economic data
(2nd Quarter GDP and ADP employment data) as well as the
conclusion of the FOMC meeting that will begin tomorrow. The trading
week will culminate in the heavily anticipated release of the
Government’s Non-Farm Payrolls and unemployment rate which,
combined with the FOMC rhetoric on Wednesday, could make the end of the
week rather interesting. For now, it’s a wait and see atmosphere but it
looks like some buying has crept in as last week’s downward momentum
may have provided a good buying opportunity
for some. Platinum and palladium are the biggest gainers to start the
session. Platinum is up nearly 1.5% to $1443 while palladium now trades
$733, up more than 1% from Friday’s close of $724. Silver tried to reach
bake above the $20 in the overnight hours
and did manage to hit a high of $20.20 before retreating back toward
last week’s closing levels. Silver has still managed to gain nearly .5%
to start the week, no trading $19.865. Gold is up .5% from Fridays close
of $1321.50 and now trades $1328. Have a great
day!
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