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Gold $1,926.97 $7.02 0.37% Silver $23.71 $0.32 1.37% Platinum $934.06 $13.23 1.44% Palladium $1,284.38 $24.59 1.95%

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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