All precious metals are up strong; some short covering and safe-haven demand is seen as investors also enjoy this seasonal window.
Troubles in the crypto space help bring additional funds toward the metals.
With the elections taking place over the next couple of days, let’s see how the results impact the overall marketplace.
Historically it´s a 50/50 split depending on who you listen to, maybe a tad higher.
In the physical silver market some interesting news out of London.
London silver vaults drop to a record low. Silver holdings dropped 26, 502 tonnes.
This is the lowest amount of silver held in the vaults since reporting started in July 2016.
The drop in silver holdings is explained by the robust demand for the physical metal. Silver hit a four-month high on Tuesday.
The amount of gold held in London vaults also dropped to 9.308 tonnes.
Credit: Anna Golubova
The technicals continue to improve significantly; bottoming formations are present in both gold and silver.
For a more detailed explanation contact IMG.
Short-term: Headlines are your buying opportunities.
Long-term: Fundamentals are your guide.
Much success to all.
London – Singapore – United States Canada
Australia – China – Switzerland
Brinks – IDS – Loomis – The Perth Mint