• +1 (312) 549-9986

Gold $4,034.70 $49.24 1.24% Silver $48.74 $0.91 1.91% Platinum $1,647.74 $23.44 1.44% Palladium $1,383.11 $39.02 2.9%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

In our opinion, the gold market has probably forged an intermediate top with a major blowoff range-up reversal overnight. In other words, optimism about the potential for an end to the US rate hike cycle has been embraced and perhaps overdone.

From a fundamental perspective, Indian gold prices posted a record high overnight and in the past Indians have been very price conscious which in turn could result in a near-term demand void.

However, the gold market should be supported by another inflow to gold ETF holdings of 24,688 ounces yesterday as that narrows the year-to-date decline in holdings to only 0.2%...[MORE]

Please subscribe to receive the full report via email by clicking here.

Leave your comment