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A-Mark Bullion Update

Blog Jan 17, 2017

A-Mark-Precious-Metals-Inc1.17.2017 With the US off yesterday for MLK Jr. Day, gold pressed higher yet again in thin trading conditions.  President-elect Trump’s remark that the USD is “too strong” caused the USD to sell off while fresh longs lifted gold further above $1,200.  Overnight, Far East demand remained steady with the Shanghai Gold Exchange trading at $19 premium versus the London spot market.  Gold ETFs finally bucked the liquidation trend, which has been going steadily down since October of 2016, and added 81,000 toz yesterday.  While US Mint sales of eagles in the domestic market have been steady this month due to the release of new 2017 dated coins, overall coin and bar demand in the US is weak.  Inventory of most sovereign and private mint fabricated product is plentiful with margins hovering around historic lows.

Keep an eye out for crude oil inventories and Fed Chair Janet Yellen’s speech on Thursday.

We have a HUGE selection of gold bars available online!

Thumbnail Photo We believe that everyone deserves a properly developed strategy for financial safety.

Lynette Zang

Chief Market Analyst, ITM Trading

Sources & References In This Article

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