Morning Market Update: Jan 11

January 11th, 2013 by

Precious metals saw consolidation overnight from Thursday’s gains, then opened up in New York trading as the dollar lost heavily against the euro. The ECB cited “significant” improvements to the regional economy, while the latest Italian bond auction met with a favorable response.

Although precious metals were showing a robust recovery towards erasing the softening seen in European trading, shortly after 9:30am, they were hit by another mysterious sell-off. This will lend more fuel to speculation about the manipulation of precious metals.

by David Peterson