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Gold at Lowest Level Since June


April gold traded lower overnight to its lowest level since June. Traders cited low spot demand and the sharp increase in Treasury yields this week for the decline. The outlook for gold and silver remains negative as the bull camp has been unable to maintain a consistent focus on a single bullish storyline.


Platinum sold off overnight but then recovered and was back in positive territory late in the session, leaving the market close to posting a third straight weekly gain. The palladium market initially avoided washout pressure from other markets but did violate critical support yesterday.


Unlike several other industrial commodities, copper has held its spike up move on Thursday and has followed through with strong gains overnight. The market has discounted a large increase in Shanghai exchange copper stocks, which are at their highest levels since November.

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