According to Standard Chartered, gold prices are trying to exceed $ 2,000, while ETF and their individual interest awakens, and this is just a start. Meanwhile, according to the latest trade data of the commodity futures Trade Commission (CFTC), gold continues to benefit from the abandonment of hedge funds.
This points to more increase for gold prices
“The interest of tactical, ETF and individual investors increased in March and there is a space for greater growth, Suk Tactical positions have increased as quickly as the last two weeks since June 2019, while ETF flows have returned to the positive for the first time in 10 months. Cooper says the net positions of investor streams have shown that the largest increase in the two -week period since June 2019 has increased by 82.8,000 lots (K LOT). Suki Cooper makes the following assessment:
The net background position has exceeded 100 thousand lots for the first time in seven weeks, but well below the 292 thousand lots of lot. This points to further increase. The total amount of ingots kept in the gold ETPs will point to the first entrance month of the last 10 months.
Individual interest in gold increased
The hand -held assets are still well below their highest levels, which points to more interest in the future. Kriptokoin.comAs you have followed, the individual interest in gold increased in March. From a macro perspective, the high US dollar and stock market, which are two obstacles in front of gold. Cooper makes the following comment:
The dollar normally benefits from the demand for safe port and the power of the dollar has been a significant obstacle for gold, but our macro strategists say that the current storm is not positive for the dollar. The fluctuation in the stock market had pulled down as a liquid asset due to margin calls in the past, but the stock markets began to strengthen.
There are plenty of spaces in the upward direction for gold prices
According to the latest trade data of the Commodity Futures Trade Commission, the Golden Hedge funds continue to benefit from the abandonment of falling bets. With the preservation of gold prices and the upward acceleration, new rise bets enter the market.
The new rise acceleration emerged as gold prices continued to test the resistance of around $ 2,000. Analysts say that the speculative positions in yellow metal are well below historical norms, that is, as more investors enter the market, there are plenty of upward areas for prices. “There is a lot of room for the rise of silver, which has been in the net short position, especially for weeks, O said Ole Hansen, Director of Saxo Bank’s commodity strategy.
Investors realize that it is worth the market
Phoenix Futures and Options President Kevin Grady says he expects more investors to enter the gold market and create a solid ground in the market as central banks continue to buy gold. In this context, Grady makes the following statement:
Central banks are not undecided investors who will sell their gold when the price drops. They buy gold in the long run. This creates an important power in the market. Investors realize that it is worth the market and quickly jump to buying decreases.
SAFE PORT FOR SAFE PORT WILL CONTINUE TO INCREASE
CFTC’s latest data show that investors finally realized. The CFTC’s report of the Commitments of Traders for the week ending on March 28, the trader commitments, has shown that money managers have increased their speculative gross longing positions in the Comex Gold -term transactions to 130.530. At the same time, Short positions decreased by 12,491 contract to 31,370.
The gold market is currently an increase of 22 %compared to the previous week and has a 99.160 contract net long position. The bull tendency has reached its highest level since May 22. In addition to completely transforming the precious metals market by central banks, analysts expect to increase the demand for safe port for the ongoing banking crisis. Société Generale Commodity Analysts share the following assessment:
Gold has maintained its strong performance since the beginning of the story of Silicon Valley Bank (SVB), and reflected the expectations that the US’s financial tightening may be close.