29 June 2016

Gold lost modest ground on Tuesday, but considering the rather ferocious snap-back we saw in the global equity markets, the precious metal did well to hold up as well as it did. By the end of the US session, gold lost some $10/ounce, but other precious metals eked out modest gains. We also saw dramatic price increases in base metals, as well as in the ferrous group where Chinese steel prices are once again on the upswing on reports of production cutbacks and falling steel inventories.

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