seignorage
market vibes
January 7…)
About 9,000 lots of new longs and new shorts entered the gold market yesterday, some of it on the back of a strong rally in silver. Weakness in silver in Asia, overlapping London and into NY this morning is adding its weight to gold. Volumes are light and the market has the feel of a developing range.
Platinum is thinner and moves are typically violent. Commercial players think the driver of these rallies is specs buying ingots and bars. Sponge (XPT in industrial form) is relatively cheap and well supplied.
