While yesterday was a very discouraging day for gold and silver bulls, today does not look to be an improvement.
In fact, with the world largely accepting the likelihood of Chinese deflation and the Chinese economy capable of exporting deflation, (overnight Chinese producer prices declined by 4.4% following a 5.4% decline in the previous month) should leave physical commodities out of favor.
Not surprisingly gold ETF holdings fell again yesterday for the 12th straight session while silver ETF holdings dropped for a 5th straight session...[MORE]
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