• +1 (312) 549-9986

Gold $3,338.79 $(29.78) -0.88% Silver $38.18 $(0.9) -2.3% Platinum $1,396.86 $(15.25) -1.08% Palladium $1,221.16 $(5.24) -0.43%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

With the Wednesday and Thursday trade in August gold producing wide ranges and ultimately producing a 180-degree sentiment change, support just above $1950 is given added respect.

However, gold appears short-term overbought from the surprise bounce yesterday which was largely attributable to the sharp decline in the dollar and because of softer-than-expected US jobs data.

Even though surveys earlier in the week showed only a 1 in 3 chance the US Fed would hike rates next week, yesterday's 18-month high in US initial claims provided gold with a significant wave of buying which reached $30 per ounce from the low...[MORE]

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

Leave your comment