A volatile close to yesterday’s trading left gold over $10/oz lower at the close for no ostensible reason. It has steadily made its way back in overnight and early morning trading and it is currently trading above $950.80/oz. The current range looks intact for the moment while interest still remains to buy dips. Increasing concerns regarding the dollar as a reserve currency and store of value (as expressed by Joseph Stiglitz) will likely result in gold resuming its uptrend soon. Overnight economic news remained very quiet. The €/$ is trading at 1.4292 and GBP/USD at 1.6373.
Silver is currently trading at $14.33/oz.
Platinum Group Metals
Platinum is trading at $1,246/oz, palladium at $284/oz and rhodium at $1,650/oz.