Traders Continue To Square In Final WeekTuesday December 29, 2015 08:36
Year-end book squaring remains the driver in the commodity markets this week. After last week’s move higher due to profit taking and holiday weekend squaring, the commodity index is giving back some gains. The drop in oil prices overnight has re-asserted some pressure on the gold and silver markets and although a softer tone may be expected this week, the metals should remain in a relatively tight range as the world gets ready to ring in 2016. Gold should be contained in the $1,062- $1,078 parameter. The market remains thin.
By Peter Hug, Kitco Metals Global Trading Director; email@example.com