MTECHTIPS;-Gold / Silver / Copper Prices – Weekly April 16 – 20

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MTECHTIPS;-Gold / Silver / Copper Prices – Weekly Outlook: April 16 – 20

MTECHTIPS-Gold futures for June delivery settled up 0.44% at $1,347.80 on the Comex division of the New York Mercantile Exchange. For the week, prices were up 0.88%. Gold prices hit highs of $1,369.40 on Wednesday, the strongest level of the year, propelled higher by concerns over a simmering U.S.-China trade spat and heightened tensions between the U.S. and Russia. On Thursday the precious metal reversed these gains as cooling tensions over Syria and hawkish sounding Federal Reserve minutes weighed. The minutes of the Fed’s March meeting showed that officials believe that the economy will continue to firm and that inflation will rise towards their 2% target in the coming months. Some investors believed the minutes bolstered the case for a faster pace of monetary tightening by the Fed, a potentially bearish development for gold, which struggles to compete with yield-bearing assets when rates rise. The dollar was little changed late Friday, with the U.S. dollar index, which measures the greenback’s strength against a basket of six major currencies, steady at 89.51. A gold and other dollar-denominated commodities more expensive for holders of other currencies. Elsewhere in precious metals trading, silver settled up 1.04% at $16.64 a troy ounce, bringing the week’s gains to 1.81%. Platinum settled at $934.30, almost unchanged for the day to end the week 1.49% higher. Among base metals, copper for May delivery was steady at $3.063 in late trade for a weekly gain of 0.43%. Copper prices are down around 6% so far this year after hitting a four year high in December amid concerns that protectionist trade

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