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Gold & Silver in Decline, Outlook for Zinc Looks Positive

May 23, 2016 at 19:18 by Vladimir Vyun

Prices for gold and silver fell today amid signs that the Federal Reserve is planning to resume its monetary tightening cycle. Higher interest rates give more incentive for investors to seek assets with higher yield while stockpiling precious metals brings no yield, just incurs costs. June futures for gold ticked down 0.1% to $1,251.7 per troy ounce as of 19:06 GMT on COMEX today. July silver subtracted 0.47% to $16.46 per ounce.

Futures for zinc fell as well, but Bounce House For Toddlers experts say that the metal may outperform its peers this year due to the falling supply. Mine closures created shortages of the metal on the market. Stockpiles in London Metal Exchange warehouses dropped to 385,775 tons — the lowest level since July 2009. Today, zinc for delivery in three months fell as much as 1.3% to $1,841 per ton on LME.

If you have any questions and comments on the commodities today, use the form below to reply.

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