325 days ago
Traders see gold as hedge against uncertainty, weaker dollar. The weakest jobless claims since October 2021 sent the dollar into a tailspin, benefitting gold. But also, given stocks have rallied significantly and many are still doubting the rally, traders are betting on gold as a portfolio hedge.
360 days ago
Gold traders are kept busy as gold surges on banking stress and a weakening dollar. The yellow metal is seeing persistent dip buying behavior as traders adopt the view that demand above $2000/oz will remain strong amid banking stress and overall strong investor demand, including buying by central banks globally. Will gold finally break lower or have we entered new normal where gold remains above $2k/oz?
383 days ago
It's impossible to say where will interest rates be in 1 month, 2 years, or 5 years from now, but what we know is that assets are highly correlated. For bond investors, targeting one's desired maturity can help, but for most other asset classes, interest rates/dollar continue to be decisive in driving returns.
397 days ago
Money managers cut bullish positions in US Crude to the lowest since January 2016, according to the Commodity Futures Trading Commission, per Bloomberg.
397 days ago
Gold prices had run up slightly faster than the dollar had weakened amid buyers' enthusiasm, but that is no longer the case as the yellow metal pulls back. Similarly, gold miners have quickly caught up to the yellow metal's performance amid improving sentiment for gold, after the banking stress pressed many would-be buyers to go shopping either for the physical metal or add a bit of it to their portfolio. In fact, call options volume for the SPDR Gold Trust has jumped recently, revealing investors are taking more aggressive bets that gold will make a move on the upside.
