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Gold $2,698.86 $2.79 0.1% Silver $30.79 $0.1 0.33% Platinum $950.35 $10.22 1.09% Palladium $965.80 $2.77 0.29%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

While gold has not managed a new all-time high this morning, both gold and silver markets remain just under this week's highs.

We suspect the downgrade of China provides a measure of flight to quality buying. However, China is also the largest consumer of gold, and the last mainland China gold import tally showed a month-over-month reduction of almost 50% and therefore the downgrade could injure classic physical gold demand expectations.

In a sign of volatility potential in the current market, the Shanghai Futures Exchange implemented trading limits on gold and copper starting Friday...[MORE]

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