Gold
Gold has taken a hit since last Friday and is currently trading at
$932.50/oz as it continues to take its lead from dollar movements and
external issues. Overall, gold still remains within a frustrating range
of $925/oz to $972/oz. Participants are viewing this recent fall as an
opportunity to go long as prices drop closer towards the bottom end of
the range. In other news Japan has followed both France and Germany out
of recession with a higher than expected GDP figure. European and US
stock markets have opened lower following a sharply lower close from
Asia this morning.
Silver
Silver is currently trading at $13.97/oz and has broken down through
recent support at $14.12/oz. Next support level is at $13.80/oz.
Platinum Group Metals
PGM supply continues to loom due to threatened strikes from ongoing
wage negations in South Africa. Currently, platinum is trading at
$1,227/oz, and rhodium at $1,700/oz.
