The best performing precious metal for the week was silver, up 3.69 percent. Weakness in the U. S. dollar began to materialize this week, benefiting the precious metals sector. With polls increasingly tight ahead of the U. S. elections on November 8, gold’s upside will persist, according to a note from UBS this week. In fact, as seen in the chart below, the U. S. Mint has already seen gold-coin sales in the U. S. climb to the highest since January. Additional positive news for the yellow metal comes from HSBC who reports that physical gold demand from China remains steady with the SGE premium trading between $4 and $6 per ounce.
This post was published at GoldSeek on 7 November 2016.