Metals Report-Game of Commodity Thrones

International Business Times reports that the midweek session in the markets pushed the US dollar back to under the 75.00 mark on the trade-weighted index overnight.

The market news is quoted as saying,

Wednesday’s action in precious metals was off to a robust start across the price boards. Platinum and palladium shone brightest this morning, offering starting gains of 1.5 and 3.2 percent respectively. The former opened up at the $1,793.00 level per ounce with a $26 gain, while the latter rose $23 to start the day off at $754.00 the ounce. Certain year-to-date statistics in the noble metals group show that additions of nearly 127,000 ounces in platinum and 24,000 ounces in palladium gave taken place in the ETF space. Those additions do not compare favorably, for example, to the 334,000+ ounces of palladium that were piled into ETF holding during the latter half of last year (figures courtesy of Standard Bank SA).

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