House view

Monday (December 29) gold and silver prices fell again, could not hold a rally on Friday.

for now, gold from 1205 dollars an ounce at the beginning of the price decreases of close to 2%, and falls in the more volatile silver prices reached 20%.

almost 60% of silver demand from industrial applications and the rest comes from investment and jewelry. Other industrial metals such as copper prices down, so silver has been dragged down, falling to the lowest level in nearly 4 years.

continued outflow of gold ETF this year showed negative emotions, especially in the precious metals market. Global Gold ETF holdings of under 1600 tons, it is the lowest level since September 2008.

silver ETF's situation is different, in October this year, reached 20182 tons of records in its holdings.

but in October, after holding the top silver ETF is a sharp outflow, outflow of 288.5 tons within the last week, making its holdings fell to the lowest level in 10 months 19372 tons, this is the silver ETF's worst week since last May.

in November, Barclays (Barclays) reported that its gold ETF may bring trouble.

Gold ETF holdings of almost 900 tons in gold at $ 900-1000/ounce room flow, if the price of gold fell to $ 1000/oz level, with almost 100 tons of gold will be a negative cash flow.

Barclays also said that silver ETF's situation worse.

"with almost 9000 tons of silver in silver ETF is above the $ 30/oz when accumulated, even net inflows almost 7000 tons, these are losses under the current price. If the first entry is the first to go, then there are almost 1900 tons are at a loss. " 

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