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Holding In The Recent Range, ETFs Still Not Interested

GOLD

Spot gold is little changed on the day, dealing just shy of $1,870/oz. Our weighted U.S. real yield monitor slipped on Wednesday, operating a touch above the recently recorded all-time lows, while the DXY finished a little lower on the day after a spike to fresh YtD highs during Asia-Pac hours. These 2 factors combined to support bullion, although spot continues to operate within the recent range, leaving a familiar technical overlay in place. ETF holdings continue to hover around the lowest levels witnessed since May '20, showing no sign of participation (actually recording a liquidation in holdings) during the recent rally

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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