Seeing the #gold market track lower in the face of the official First Republic Bank failure highlights the market's lack of sensitivity to flight to quality events.
Furthermore, seeing gold and #silver diverge suggests flight to quality sentiment is really moderating and the trade is possibly looking at silver as an undervalued commodity following the deficit projections from the Silver Institute.
Last week gold ETF holdings increased by 105,274 ounces while silver ETF holdings increased by 4.5 million ounces which shifted silver holdings into a net gain year-to-date of 0.4%...[MORE]
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