Written Commentary
GOLD / SILVER
The gold market starts out with a slight positive track this morning and we suspect that is the result of anticipation that the US Federal Reserve will keep the gas pedal of liquidity pressed to the floor. However slightly disappointing Chinese economic data overnight creates some economic uncertainty and Goldman overnight has floated a $2,000 price target for gold.
PLATINUM / PALLADIUM
With a slight risk off condition overnight and disappointing Chinese economic data the PGM markets will need something supportive from the Fed this afternoon to avoid fresh selling. The palladium market continues to exhibit a lack of definitive trend with the gains on Monday fully reversed yesterday and prices seemingly caught in a trading range bound by $2,069.20 and $1,893.50.
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