Commodities narrow trading on mixed sentiments…
The precious metals are narrow trading on a daily due to the consolidation of the dollar; their opponent, as mixed sentiments are spread throughout overall markets since today's data released from the U.S is gloomy concerning the PPI and the housing data, while that overall earnings posted from huge U.S corporation continue on being cheerful.
As a result, the dollar index, which shows the strength of the dollar in front of a basket of currencies, is narrow trading at 75.36 due to fears and hopes spread, recording a high of 75.38 and a low of 75.09.
Consequently, the yellow precious metal are narrow trading as well on a daily scale due to the consolidation of the dollar, knowing of course that these two have an inverse relation, having gold so far trading around $1061.51 an ounce recording a high of $1059.61 an ounce and a low of $1059.61 an ounce.
As for the other precious metals; the silver prices are consolidated as well on the daily chart to trade so far at $17.71 recording a high of $$75.38 and a low of $75.09, while that the platinum prices are climbing slightly to the upside as a result of overall cheerful earnings, seeing platinum trading around $1370.00 recording a high of $1379.50 and a low of $1360.00.