“Gold futures prices are weaker in early trading Monday, even after the CME Group cut margins on Comex gold, says George Gero, vice-president, global futures at RBC Capital Markets,” reports Kitco.
“The stock market strength, lower oil prices – because of the potential Iran deal – and options on futures expiration Monday are contributing to the selling, Gero says. Rolling of positions from the nearby December contract to the February contract ahead of first notice day on Friday continues, but Gero notes that spreads narrowed to 50 from 100 points, which show less demand to roll positions.”
With a decline of 2.1 percent on Friday, November 22, Japanese silver recorded the biggest price drift of the day. Indian silver ended the day, after the 1.4 percent drop last Friday. After falling for two days, the price of US silver rose 0.7 percent. Chinese silver gained 0.1 percent to finish.
Japanese gold bullion prices saw a 1.4 percent decline. Indian gold bullion prices inched up 1.0 percent. The price of Chinese gold bullion fell 0.1 percent. US gold bullion saw little change in its price last Friday.
Japanese platinum bar finished the day down 0.4 percent. US platinum bar closed 0.4 percent lower. The price of Chinese platinum bar declined 0.3 percent.
Japanese palladium bar fell 1.0 percent last Friday. The price of US palladium bar increased 0.1 percent. The price of Chinese palladium bar was essentially unchanged.