June has been a disappointing month despite lower stock prices and increase in the VIX volatility index.
Mike McGlone, research director for New York-based ETF Securities, who is being interviewed by Kitco News, says that the metals seem to be pressured by deflation, with gold faring the best, 1.5% lower.
"Lower stocks and the
increase in the VIX have only happened in the last few days of the month
and the first half of the year on potential transitory issues related
to Greece, likely lessening their impact as the markets square up for
the end of the first half of the year," says McGlone.
Silver has stabilized for the most part, despite trending down, as currency volatility has
increased.
It remains the only precious metal trading higher on the year, albeit "barely", says McGlone.