by Frank Holmes
The best performing precious metal for the week was again silver, up 16.04 percent despite hedge fund managers cutting their net bullish positions to a six-week low; thus the physical market is driving the price. ETFs added 126,842 troy ounces of gold to their holdings on Thursday, bringing 2020 purchases to 26 million ounces and marking the 30th straight day of inflows. Total gold held by ETFs rose 31 percent so far this year. Gold continued to climb above its $2,000 an ounce level set last week on growing economic and geopolitical uncertainty.