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Building A Base?

GOLD

Bullion has moved away from fresh multi-month lows over the last 24 hours, drawing support from a softer USD and generally lower real yields, in net terms, over the same horizon. Spot has coiled in Asia-Pac hours, last trading little changed around $1,735/oz.

  • ETF holdings of gold continue to move lower, and now operate ~7% shy of the all-time high registered back in October. Still, that particular metric continues to operate at elevated levels in historical terms.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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