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Gold $2,334.42 $1.13 0.05% Silver $30.37 $0.04 0.13% Platinum $1,032.04 $3.11 0.3% Palladium $978.00 $12.91 1.34%

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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