Zaner Daily Precious Metals Commentary
Friday, September 1, 2023At least in the early Friday action outside market forces are negative for gold and silver. However, the magnitude of strength in the dollar was limited despite an early rise above yesterday's high.
Fortunately for the bull camp gold ETF holdings saw another inflow yesterday of 31,603 ounces, while silver ETF holdings saw another large outflow of 3.2 million ounces. Gold ETF holdings year-to-date are down 4.2% while silver ETF holdings year-to-date are down 4.4%.
Despite the slight blip higher in US treasury implied yields this morning, the CME Fed watch tool continues to register a very high 89% probability the Fed will pause next month...[MORE]
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