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Gold $3,295.74 $(18.19) -0.55% Silver $32.56 $(0.35) -1.05% Platinum $966.80 $(12.68) -1.29% Palladium $939.75 $3.72 0.4%

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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