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Gold $3,371.37 $(15.82) -0.47% Silver $39.08 $(0.18) -0.45% Platinum $1,389.69 $(30.69) -2.16% Palladium $1,264.36 $(8.93) -0.7%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

Despite a building overbought condition in gold and silver, prices continue to extend on the upside this morning in what we consider long-term fundamental-based investment trading.

Evidence of the bulls piling on the trade was seen overnight from Commerzbank predicting gold to reach $2150 in the second half of next year and silver to reach $30 per ounce by the end of next year.

As we have indicated in financial market coverage all week the magnitude of the anticipated pivot by the Fed, after a historic rate hike cycle obviously justifies a significant and sustained reaction in precious metal prices...[MORE]

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