Morning Snapshot: Gold Up Slightly to Start the Week

USAGOLD/Peter Grant/11-06-17

Gold is up slightly to start the week, but still well contained within the recent range. The dollar index edged to a new 15-week high of 95.08, and this strength continues to limit the upside for the yellow metal.

Lower U.S. yields and mixed stocks suggest a tempering of risk appetite. That is seen as supportive to the precious metals.

Silver is consolidating at the low end of Friday’s range after failing to sustain last week’s push back above $17. The low end of the broader range remains well protected at $16.30.

The U.S. calendar is very light today, but we will hear Fed Speak from NY Fed President William Dudley. The press is reporting that Dudley will announce his early retirement as soon as today. Outgoing Fed Chair Yellen speaks tomorrow.

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