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Gold $2,002.57 $(0.4) -0.02% Silver $23.08 $0.05 0.22% Platinum $923.76 $4.43 0.48% Palladium $949.68 $4.65 0.49%

Zaner Daily Precious Metals Commentary

Zaner Daily Precious Metals Commentary

Despite favorable internal demand news, the #gold market starts off under pressure from strength in the #dollar and signs of higher global interest rates.

While comments from a Chinese state planner indicating they will push for an expansion of household consumption sounded like the 6th stimulus announcement, that news combined with a slight improvement in Japanese manufacturing PMI readings for July should have been more supportive of gold, #silver, and many physical commodities.

Unfortunately for the bull camp gold ETF holdings last week fell by 329,000 ounces with a decline on Friday of 50,383 ounces putting year-to-date holdings down 2.3%...[MORE]

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