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Gold $2,388.07 $2.52 0.11% Silver $28.34 $(0.51) -1.77% Platinum $971.66 $(0.31) -0.03% Palladium $1,036.18 $4.79 0.46%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

While we think the #gold market has posted a moderately reliable low with the Wednesday washout, we also expect volatility to increase in both gold and #silver ahead and we expect both markets to retest and perhaps temporarily violate recent lows.

However, the gold market showed signs yesterday that it was receiving a flight to quality bid from renewed economic uncertainty and perhaps more importantly from escalating concerns of potential trouble in the financial markets from the debt ceiling situation.

In fact, a significant jump in credit default swap rates has surfaced and according to Reuters, those yields reached the highest levels in more than a decade, with some analysts suggesting the prospects of a technical default are no longer insignificant...[MORE]

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