Los Angeles CA, June 1 (Tangible Investments) — by James O’Dell — Precious metals prices edged lower in early trading on Thursday as Gold eases ahead of Friday jobs report. Gold is down 0.41 percent to $1,263.40 an ounce after gaining $5.80 on Wednesday to close at $1,268.60.

Silver is down 1.36 percent to $17.07 an ounce after easing $0.07 on Wednesday to close at $17.31 an ounce. The Gold/Silver ratio rose to 73.29. Platinum is down 1.80 percent to $930.00 an ounce. Palladium is up 0.86 percent to $823.00 an ounce.

Gold eased as the dollar strengthened in early trading Thursday after Gold hit a 5-week high of 1,274.09 on Wednesday. “A stronger dollar is undoubtedly weighing on the precious group, with the greenback now trading at 111.30 against the yen and $1.1210 against the euro,” said INTL FCStone.

The euro fell after polling showed British PM Theresa May’s Conservative Party lead has almost vanished with voting next week. In the U.S., investors are cautious ahead of Friday’s jobs report and the June FOMC policy meeting in two weeks.

“Continued geopolitical concerns and jitters across global equities are supporting the price action currently,” said Sam Laughlin, of MKS. “However investors are likely to hold off instigating fresh positioning until we are through U.S. jobs data on Thursday (ADP employment) and Friday (non-farm payrolls).”

Silver Set To Soar

Meanwhile, according to The Silver Focus 2017 report, Silver prices are set to soar in the second half of 2017. Analysts at Metals Focus, said that they are expecting, “the global macroeconomic environment to remain and indeed become more positive for precious-metals prices over the rest of the year and probably beyond.

“As a result, we forecast that the Silver price will rally in the second half of 2017, with a breach above $20 looking likely in the fourth quarter.” Gold Eases Ahead Of Friday Jobs Report.

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