Mondays turns out to be a hart day for precious metals. Almost every single market is bearish today.
· Gold has lost 0.55 of its value. The current price is around 1764.8/oz.
· Silver is down by 1.51% and is trading around $34.02/oz.
· Platinum has lost1.58%. The current price is $1611.30.oz.
· Palladium costs $656.05/oz. It is down by 2.25%.
The major reason for the overall decline is the negative news from Europe. Angela Merkel And Fracois Hollande met over the weekend. However, they failed to agree on the eurozone banking regulator issue. Hollande wants the regulator to start functioning as soon as possible while Merkel postpones the start.
The following chart, courtesy of , reflects the current state of affairs in the market of silver:
