by Alasdair Macleod, GoldMoney:

Gold and silver continued their consolidation this week, with gold down $17 from last Friday’s close at $1986 in European trading this morning. And over the same timescale, silver was down 24 cents at $25.07. On Comex, turnover in the gold contract was low, with 95,300 ounces (2.96 tonnes) stood for delivery in the first four days, while turnover in silver was healthier.

This week, the Silver Institute released its annual World Silver Survey. It headed its introduction by stating, “Once again, 2022 was a year of sharp contrast between silver’s fundamentals and institutional investor attitudes towards the metal; while the silver market saw what may have been the largest deficit on record, professional investors were indifferent or bearish for much of the year.”