The size of gold ETFs continues to lag the steep 2023 gold price gains to date, leading analysts to suspect unaccounted for OTC wholesale investment flows as the driver as Comex speculation also remains cautious by comparison
GOLD PRICES rallied but fell back again Monday in London, slipping below $2000 per ounce amid what analysts called a necessary correction after speculators in Comex derivatives took profit and the giant GLD gold ETF shrank in size for the first week in 5, says Atsuko Whitehouse at BullionVault.
Gold and silver bullion prices leapt Tuesday, touching 1-year highs after new US data said job openings in the world s largest economy sank in February, slashing bets that Friday will bring strong jobs data for March and lead the Fed to raise interest rates next month
The gold price fell again Monday as European stock markets rallied and banking shares bounced from last week s sell-off, while new data said ETF investment is growing and Comex speculators have turned bullish on gold futures and options
Gold price gains were cut from 1.9% to 1.3% for the week so far Thursday as global stock markets also struggled while longer-term interest rates hit new multi-year highs on strong US economic data