MarketWatch: Gold Jumps, PGMs Fall

12/6/2014

LONDON, 12 June 2014 – Financial news site MarketWatch today quotes comment from BullionVault on the latest action in precious metals.

While platinum-group metals today fell as South Africa's 5-month strike looked to be ending, gold and silver rose with crude oil prices as Sunni extremists seized territory in northern Iraq.

"Gold and silver shorts ignored Iraq's Islamist threat nearly as badly as Baghdad," MarketWatch quotes Adrian Ash, head of research, commenting on hedge funds betting mistakenly that prices were set to fall.

"Last week's extreme positioning is getting unwound fast, and there could be further to run yet if crude stays firm and equities soft."

Read the full story at MarketWatch:

Gold near 3-week high; platinum, palladium sink

Source:

MarketWatch

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