While the dollar neared a downside breakout point overnight of 99.26, without a new low for the move, this morning's early gains in gold and silver could be difficult to extend.
However, gold ETF holdings saw a 2nd straight day of inflows with 49,017 ounces added yesterday. On the other hand, silver ETF holdings saw 2.1 million ounces flow out, bringing this year's net sales to 11.7 million ounces.
Gold and silver are likely undermined by a generally negative ongoing global view toward the Chinese economy with the Chinese government failing to hit the right notes on stimulus applications...[MORE]
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