Weakness in gold and silver is leading to robust demand globally as investors buy on this dips. Most evident in Asia where premiums are high and supply imbalances remain. The strong demand began on the price falls in April. Data released by the London Bullion Market Association (LBMA) yesterday shows the result. The price falls led to an increase in physical buying. Trading in gold averaged 24.1 mil oz/day in the London market a 10% increase on March when 21.8 mil oz/day were traded. Silver volume up nearly 25% to 165.2 mil oz/ day, up from 132.5 mil oz in March. Gold down C$19.50 @ USD$1392.60/oz Silver slips 0.53 cents @ USD$22.17/oz and Oil down 0.84 cents @ 92.79.

Note-movements based on previous days closing market prices.

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