In Tim’s recent post he focuses on the following
- The strengthening dollar has been the most important factor in recent gold and silver price declines.
- This week’s Fed meeting could halt the dollar’s rise and give metal prices a boost.
- Demand for precious metals in Asia is improving but safe haven demand appears to have ebbed.
Some other interesting stats that Tim brings up deal with the gold and silver ETFs in the US, GLD and SLV. For GLD 14 tonnes of gold left the ETF leaving the year-to-date outflows almost flat at 10 tonnes. The story is very different for SLV. In the first week of September 52 tonnes entered the ETF and last week 100 tonnes were added! Maybe this is the start of western demand coming back…