Strong Equities Puts Pressure on Gold

Gold, along with most of the precious metals, is down somewhat today as geopolitical tensions ease and equities strengthen. Gold is down around 0.4 percent today to $1,274.40 per ounce.

Platinum and silver have also lost an average of 0.4 percent today. Only palladium posted gains in its session today, rising by 0.3 percent and holding over the $1,000/ounce threshold. Base metals are entirely split today, with losses in aluminum (-0.4 percent), zinc (-0.8 percent), and lead (-0.2 percent). On the other hand, copper is up 0.6 percent (to $6,857 per ton), tin gained 0.5 percent today, and nickel is up by 1.1 percent.

Spot Brent crude oil prices have slipped to $63.41 per barrel, a loss of 0.32 percent. The yield for U.S. ten-year treasuries has slipped somewhat to 2.4 percent. The German ten-year bunch is also down to 0.33 percent. The U.S. dollar is up to 93.31 today, from 92.60 on Friday.