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TDS: 'Going Long Silver Looks To Be An Attractive Bet'

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TD Securities calls silver an “attractive” bet after recent price weakness. “Silver, recently deemed the ugly duckling of the [precious-metals] complex, bounced off resistance at $16.80 [per ounce] and is now trending lower with precious metals,” TDS says. “Investor appetite for silver remains lackluster as speculators recently piled on shorts, driving net exposure to its lowest on record. Given our uncertainty that the Fed hikes four times and the likelihood real rates will remain low, we expect precious metals will perform well moving forward — going long silver looks to be an attractive bet.” As of 10:50 a.m. EST, spot silver was 5.2 cents lower to $16.43 an ounce.

By Allen Sykora of Kitco News;


TDS: Gold Range-Bound Ahead Of Friday U.S. Jobs Report

Thursday March 08, 2018 10:57

Gold prices remain range-bound at the moment, trading near the 50-day moving average around $1,329 an ounce, says TD Securities. Analysts say a move above $1,360 or below $1,300 “does not seem to be in the cards any time soon. Increased probabilities of four rate hikes this year continue to weigh on prices, while recent fears of a trade war are preventing a major liquidation of spec positioning. Keep an eye out for [U.S.] non-farm jobs and wage data later this week.” The monthly U.S. employment report is scheduled for release on Friday. As of 10:49 a.m. EST, spot gold was down $5.45 for the day to $1,319.95.

By Allen Sykora of Kitco News;


Commerzbank: Indian Feb. Gold Imports Down Year-On-Year, Up From Jan.

Thursday March 08, 2018 10:57

Commerzbank notes that India’s February gold imports were down on a year-on-year basis but improved from the prior month. Analysts cited provisional data from India’s Ministry of Finance showing that the country imported 67 tonnes of gold in February, down 31% year-on-year. “Gold prices in India had risen sharply in the first two months of the year, and traders had held back on buying gold in anticipation of a reduction in import duties,” Commerzbank says. “What is more, last February’s level was unusually high. That said, imports have already picked up noticeably again as compared with January.” 

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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