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Gold $3,286.74 $11.43 0.35% Silver $37.15 $0.02 0.05% Platinum $1,310.60 $(1.79) -0.14% Palladium $1,211.35 $(15.57) -1.27%

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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