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Gold $2,373.62 $(11.93) -0.5% Silver $28.38 $(0.47) -1.63% Platinum $971.39 $(0.58) -0.06% Palladium $1,019.77 $(11.62) -1.13%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

With the dollar posting a higher high overnight the lower low in the gold and silver markets was to be expected.

Yesterday gold ETF holdings declined for the eighth straight session with a rather substantial reduction of 176,980 ounces bringing the year-to-date change in holdings to -2.8%. Silver ETF holdings saw a third straight day of outflows with year-to-date holdings now down 2.6%.

In retrospect, the failure to see gold and silver benefit from the Fitch downgrade of US credit highlights a prevailing bearish sentiment in the precious metal markets...[MORE]

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