Some commentary on gold from the US session, where it slumped a few dollars from early morning highs circa US$1788.
TD is wary on diminishing demand for physical:
- important hubs for physical demand in China and India are on the weak side and could remain so in the near term
- physical gold purchases at lower levels will pressure the price on to the downside
Meanwhile, UBS on platinum
- With a forecast for US$ 1250 by the end of 2021