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