Commodities Brief: Silver prints fresh 7-month low

FXstreet.com (Barcelona) - In a day when natural correlations between Gold and USD have turned back to natural, Gold dipped more than $25 from weekly highs yesterday at $1604 for the June contract, the one most traded at the moment by far, down to fresh 3-week lows at $1574, while USD climbed from 6-day lows at 82.5 to current 82.89, still capped below the key 83 level.

Gold is last at $1575, down -1.48% at the NY close, while USD is up +0.2% on the day, also pushed by US treasuries that saw an early dip in yield for the US 10 year note to as low as 1.82%, followed by some release to 1.86% from equities buying that prompted SP500 to set yet another all time record high and close at 1570 up +0.52%. Oil in the other hand was mixed, closing almost even at -0.02%, printing a daily doji candle with practically no body and a high/low range $96/97, last at $96.95.

Silver was the big loser instead and closed down -2.72% in NY at fresh 7-month lows $27.22.