Tuesday, December 6, 2016
Yesterday saw the gold market act like a see-saw. Gold is essentially range bound
Yesterday saw the gold market act like a see-saw. Gold is essentially range bound at the moment but still with a downward tendency. Platinum continues to look good and may finally be trying to make a stride to the upside. There may be some support coming from a possible mining strikes in Zimbabwe, the world’s third largest producer. Meanwhile silver looks poised to test $17 today on nothing other than good demand possibly a higher US trade deficit is driving more interest for some safe haven buying. Yet without any more relevant news to push the commodities we expect that any rallies will be met with fierce selling ahead of the Fed Rate Decision next week.