Bull Market for Commodities Slackens
The long bull run for precious metals has hit a weak point. Sell-offs are on the rise and interest in commodities in general has dried up with renued strength for the U.S. dollar. All this in two days.
Gold this morning has dropped below the $900 mark and is fast headed towards the first benchmark of $885 noted in a posting last week. Soon we may be seeing if it can hold at that level.
Silver has fallen below $17 and platinum rests at about $1910, with future contracts slipping on signs demand will be dropping off, as investors loose interest. Platinums pal, palladium is down around $425.