12 June 2016

The precious metals group was sharply higher last week, but the upward move was concentrated mainly in the gold and silver complexes, with platinum and palladium sitting things out. Gold got to a three-week high on Friday, as slumping US stocks offset the impact of a rising dollar. The greenback pushed higher on a number of variables, including the ECB’s recent foray into the European corporate bond market last week where it scooped up a number of issues. Sterling also came under attack after the latest polls are showing that the “Brexit” vote is tightening once again. 

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