Investors have been pushing precious metals futures positioning to multi-year lows as Eurozone fears weigh on market risk appetite.
Both palladium and gold futures net longs to 15 May (the most recent data available) dropped to their lowest level since late 2008, while platinum net long positions reached the lowest levels since late 2010.
The week ahead for precious metals
Investors will remain on edge not only about the lack of political coherence but also about the regions ability to generate growth via its austerity strategy.
Political rhetoric is therefore the most likely catalyst for directional cues this week in precious metals markets as they remain tied to market risk appetite.
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL) was up 1.7% year to date as of May 18, according to Morningstar.
ETFS Physical Swiss Gold Shares
