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Consolidating Above $2000

GOLD

Gold is holding above $2000, but has mostly tracked sideways for the session. Highs for the session, above $2008, coincided with early USD weakness, but as the dollar indices recovered we moved back towards $2002. We sit slightly higher at $2003.70 currently, less than 0.10% down for the Wednesday session so far.

  • Gold ETF holdings are still showing positive momentum, but the rate of change has slowed compared to a few weeks ago.
  • Technically, recent lows come in ahead of the $1980 level, while recent highs rest above $2047, which came prior to the recent rebound in US yields.

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