Gold Pushes Higher on China Growth Forecast
Source: Seeking Alpha, Gold Core (6/18/09)
". . .gold looks well supported at these levels."
Silver: Despite recent poor investor sentiment, silver has been a star performer over the past two days with physically backed ETFs adding 119 tons of metal to the inflow. This move has recovered some of the 9% losses that silver had incurred over the previous two sessions. This takes the ETFs holdings to over 10,840 tons—a new record high. Silver is currently trading at $14.30.
Platinum Group Metals: Platinum is still seeing very decent inflows with 392kg turnover on the Shanghai Gold exchange overnight. Very good support for the group will be bolstered by news that the National Union of Mineworkers support industrial action by workers at Impala, a major platinum producer in South Africa. The fact that 90% of all platinum produced worldwide comes from South Africa means that the outcome of this industrial action will be closely monitored. Platinum is currently trading at $1,200.