7th December 2017

 The selling continued in the commodity complex on Wednesday; although base metals got something of a reprieve after Tuesday’s drubbing, the precious metals group and oil did not fare as well. Gold lost roughly $8/ounce to finish at $1265, while silver crashed through the August 2017 support at $16.09 and ended below the psychologically important $16 level, setting a 4 1/2 month low in the process. Platinum also ended at a five-month low, finishing just above the $900 mark and there was pressure on palladium as well, but palladium prices did see a reasonable bounce in after-hours trading and are holding up far better than the rest of the group, at least technically. In the physical markets, Reuters reports that November global holdings of gold-backed ETFs showed a rise of 9.1 tons to 2,357 tons, with net inflows coming entirely from Europe

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