Precious metals are red across the board on little news.

Precious metals are red across the board on little news. It seems that the continuing collapse of the copper prices on the profit decline of Chinese companies is spilling over into these markets. But the real loser in the group continues to be platinum which is baffling this me. The downward pressure on commodities might also be an effect of the snowballing price action is causing Glencore one of the largest base metal trading houses to be succumbing to the negative prices and putting them at significant financial risk. Yet no rate hike yet in sight maintains the gold price well above the $1100 dollar mark for now. With the Pope’s departure from the USA, precious metals markets are praying on getting some of that love he spoke so well about. In the end markets have no care and the money flows to where it sees profit potential. Where that is, is certainly not clear at the moment, as the Stock market is also is losing ground this morning.