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Gold $3,326.07 $20.75 0.63% Silver $32.64 $0.19 0.58% Platinum $989.03 $6.45 0.66% Palladium $979.85 $12.95 1.34%

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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