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Gold $2,367.08 $(18.47) -0.77% Silver $28.04 $(0.81) -2.81% Platinum $963.66 $(8.31) -0.85% Palladium $1,028.38 $(3.01) -0.29%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

Despite favorable internal demand news, the #gold market starts off under pressure from strength in the #dollar and signs of higher global interest rates.

While comments from a Chinese state planner indicating they will push for an expansion of household consumption sounded like the 6th stimulus announcement, that news combined with a slight improvement in Japanese manufacturing PMI readings for July should have been more supportive of gold, #silver, and many physical commodities.

Unfortunately for the bull camp gold ETF holdings last week fell by 329,000 ounces with a decline on Friday of 50,383 ounces putting year-to-date holdings down 2.3%...[MORE]

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