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Gold $1,927.26 $7.31 0.38% Silver $23.76 $0.37 1.58% Platinum $934.16 $13.33 1.45% Palladium $1,285.03 $25.24 2%

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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