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Gold trading just below $1500/oz in early European trading, about $35/oz off Tuesday’s intraday highs.
The sell-off in #gold had two triggers: the release of slightly firmer US CPI and signs of a slight thaw in the Sino-US trade war.
The sell-off in #gold had two triggers: the release of slightly firmer US CPI and signs of a slight thaw in the Sino-US trade war.
The sell-off triggered some outflows in #gold ETFs, which posted their first decline in 12 sessions and the largest one-day outflow in 3 months, accordiing to Bloomberg's robots.
Inflows into #gold-backed ETFs still healthily positive for the month to date, as the screenshot from our proprietary database shows.
Yesterday’s move in #gold seems a little outsized vs. the change in US rates or the USD, likely due to the size of the speculative longs in the market now.
Still, gold is healthily higher over a one month, three month and ytd: some volatility is to be expected.
Best of luck!
Still, gold is healthily higher over a one month, three month and ytd: some volatility is to be expected.
Best of luck!
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