Gold and silver prices fell to new multi-month lows versus a strengthening US Dollar at the start of European trade on Monday, hitting 4-month and 16-month Dollar lows respectively.
Priced in the Euro both precious metals fared worse still, dropping to their cheapest since February and March 2016.
With gold and silver hitting US Dollar lows of $1205 and $15.21 per ounce respectively at 8 AM London time, world-leading base-metals platform the London Metal Exchange this morning launched its& new LME precious contracts, aimed at “modernising the gold and silver markets” currently centered in the UK capital, and also set to compete with dominant US-based futures and options exchange the CME Group’s Comex products.
This post was published at FinancialSense on 07/10/2017.
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