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Gold $2,387.69 $14.9 0.63% Silver $28.41 $0.14 0.5% Platinum $947.86 $5.43 0.58% Palladium $1,035.88 $9.65 0.94%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

While the dollar did not post a higher high for the move in the overnight action it remains a headwind for the gold bull camp.

Given the lack of a recovery in gold and silver following the downgrade of US credit by the rating agency Fitch the market is not sensitive to flight to quality issues.

In a second negative story, the World Gold Council indicated that Indian gold demand in the 2nd quarter declined by 7% from last year and suggested the slumping demand was the result of persistent record-high Rupee gold prices which reduced affordability and turned off consumer interest...[MORE]

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