With the gold market tumbling (read Stuart’s in-depth analysis), some big firms are seeing records being broken.
For example, “SPDR Gold Trust , the world’s largest gold exchange-traded fund, said its holdings fell 0.12 percent to 968.30 tonnes on Monday – its lowest since February 2009,” according to Reuters.
However, MetalMiner’s daily precious metals prices saw several increases:
On Monday, July 1, the day’s biggest mover was the price of Chinese silver, which saw a 6.4 percent increase. This increase comes after the price fell for the two previous days. After hitting a 30-day low on Thursday, June 27, the price of US silver rose 6.2 percent yesterday. The price of Indian silver rose 4.9 percent after a two-day drop. Just off of a 30-day low, the price of Japanese silver rose 1.4 percent yesterday.
The price of US gold bullion is back up, rising by 2.9 percent on Monday. After falling for two days, the price of Chinese gold bullion rose 2.5 percent. Following a 2.2 percent rise yesterday, the price of Indian gold bullion closed up. On Monday a price drop of 2.0 percent carried the price of Japanese gold bullion to a 30-day low.
Following a 3.5 percent rise yesterday, the price of Chinese palladium bar closed higher. US palladium bar finished the day up 2.3 percent. The price of Japanese palladium bar showed little movement yesterday.