Following Strong Session, Precious Metals Consolidate

While yesterday saw the precious metals complex closing at an average of +0.9 percent, with palladium leading at +1.6 percent, today is proving to be a much quieter day in trading, with gold down 0.2 percent to $1,318.09 per ounce.

Silver is also consolidating somewhat today, slipping by 0.1 percent to $17.16 an ounce. Platinum and palladium are both posting gains today, however, up 0.3 percent and 0.1 percent, respectively. With the last few weeks showing considerable rallies for the precious metals complex, some consolidation is to be expected. Base metals are generally seeing good trading today, with all metals but nickel posting gains in the 0.1 percent to 0.4 percent range.

In other markets, the German ten-year bund is at 0.44 percent while the yield for U.S. ten-year treasuries posted at 2.45 percent. Spot Brent crude oil prices slipped by 0.12 percent to $67.85 per barrel. The U.S. dollar is consolidating on its index at 91.94.