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GOLD: Gold Retreats after Hitting New Highs

GOLD
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  • Gold’s relentless rise continued overnight, marching towards $3,000 / ounce.
  • Opening the Asian session at $2,935.21, gold moved higher all day to a high of $2,939.65, before slipping back to $2,929.00
  • A research report from Goldman Sachs set a revised target for gold to $3,100.  The key determinant for the revised price is the resumption of gold purchases by Central Banks globally. (per BBG)
  • Vanguard's S&P 500 ETF growth over the last year has taken it to be the largest exchange-traded fund, with nearly $632 billion in assets according to BBG.
  • Data released from the State Agency Singapore show that gold shipments from the Southeast Asian nation to the US was over 10 tonnes for the month of January, up 25% from December last year. 
  • Usually in periods of USD strength gold declines however in recent days the underlying support for gold as a tariff and inflation hedge is evident as it continues to rise.
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  • Gold’s relentless rise continued overnight, marching towards $3,000 / ounce.
  • Opening the Asian session at $2,935.21, gold moved higher all day to a high of $2,939.65, before slipping back to $2,929.00
  • A research report from Goldman Sachs set a revised target for gold to $3,100.  The key determinant for the revised price is the resumption of gold purchases by Central Banks globally. (per BBG)
  • Vanguard's S&P 500 ETF growth over the last year has taken it to be the largest exchange-traded fund, with nearly $632 billion in assets according to BBG.
  • Data released from the State Agency Singapore show that gold shipments from the Southeast Asian nation to the US was over 10 tonnes for the month of January, up 25% from December last year. 
  • Usually in periods of USD strength gold declines however in recent days the underlying support for gold as a tariff and inflation hedge is evident as it continues to rise.