Quick bullet points from the news that are impacting this morning’s precious metals market:
- Silver ETF hits all time high overnight. Silver ETF holdings now at 671,792,257 ounces.
- Dollar index breaks thru the 99 level. BUT the stronger dollar is not effecting the price of gold this morning.
- Odds increase of a likely FED hike in December to 74 percent.
- The Wall Street Journal reports this morning that German companies are sitting on 500 billion dollars in cash.
Company executives blame their reticence on weak economic outlook, regulatory uncertainties and geopolitical risks.
- Some German banks are reporting that investors continue to be steady buyers of physical gold. Negative interest rates forces bank clients to hold cash and metals in their recently purchased safes in their homes, as some Germans lose confidence in the German banking system.
Have a wonderful Tuesday.
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