For the precious metals market, traders will have to keep close tabs on the Fed as gold has been closely correlated to real interest rates. We have seen gold outperform in negative interest rate periods. The Fed passed on raising rates at the conclusion of its June meeting Wednesday, providing a lift to some metals and other commodities.
Related: Gold Demand is Robust
“Right now, platinum prices are almost 30% lower than gold prices, compared with the past decade, when they’ve been 34% higher on average. There has been only a handful of times in the past 100 years that platinum has traded at this much of a discount to gold,” according to TheStreet.
For more news on Silver ETFs, visit our Silver category.
ETFS Physical Platinum Shares
Tom Lydon’s clients own shares of GLD.