Daily Gold Update

Source: Bill Musgrave, American Gold Exchange

Austin— Gold added 0.1% to close above $1,329 as traders waffled between desire for risk assets and safe havens.

The failed Turkish coup late last week added new jitters to markets already anxious about Brexit fallout, global terrorism, and the uncertainty surrounding U.S. presidential politics. While most analysts see it as an isolated incident, the violence in Turkey comes after random bloodshed in France and police-shootings in the U.S. have put many on edge.

Stronger recent economic data, including solid payroll gains and improving industrial output in the U.S., and positive growth reports out of China, helped propel the Dow and S&P 500 to record highs last week. Both indexes add slightly to those gains today, picking up 0.1% and 0.2%, respectively.

The edged lower against major rivals, with the Ice Dollar index slipping 0.1% as currency markets called down after the relative order was restored in Turkey. Oil prices fell by 1% on reports of rising U.S. stockpiles.

The other precious metals were mixed, with silver and palladium dropping 0.5% and 0.2%, respectively, while platinum gained 0.7%.

At the Comex close: August gold added $1.90, to $1,329.30; September silver slid 9 cents to $20.08; October platinum rose $7.20 to $1,101.60; and September palladium slipped $1.35 to $646.05 an ounce.