#Gold - Heavy selling in precious metals futures contracts over the last 24 hours

The attached chart shows the massive seller (s)  used the FED interest rate hike to do further damage in the precious metals market.

 

Through the futures market, in the last 24 hours, the value of US$ 10 Bio. in precious metals futures contracts were dumped into the market.

 

 

 

#Gold & #Silver #ETF holders continue to liquidate holdings - EURO/US$ ratio close to breakout on the downside

Total Global Gold ETFs were DOWN 35kozs Nov 13 to 58.856Mozs.  They are down 5.4Mozs since the US Election.  They are still up 11.866Mozs so far in 2016 …. Global Silver ETFs were DOWN 1.8Mozs Nov 13 to 654.8Mozs.  They are up 48.6 Mozs YTD.   

 

Source: Bloomberg

#Zinc Breaking Out from 7.5 Year Range

 

Zinc Breaking Out from 7.5 Year Range

Ø  Zinc is breaking out from a key inflection level dating back to 2009.

Ø  The breakout is  backed by a momentum thrust with RSI and MACD breaking out to nearly 10 year highs.

Ø  Depth of the 7.5 year range measures conservatively to a technical target of $3,850/t ($1.75/lb).

Ø  Trevali Resources remains our favourite way to play the zinc space. Nevsun Resources also looks poised for further upside.

From Paradigm Capital