vrijdag 4 augustus 2017

COT Report Not Looking Good

A huge reversal happened in just 2 weeks. Managed money shorts all covered now, which means gold is not looking to well and might have topped out.

Silver is a bit more bullish, could go to $17/ounce, but is also weakening. And with today's beat in the jobs report, things might have changed for the worse for precious metals. I would be cautious.

donderdag 3 augustus 2017

WGC: Gold demand down, gold supply up

Gold demand in the second quarter has dropped from 1034 to 953 tonnes quarter over quarter. That's an almost 10% decline. Supply increased notably from 1032 to 1066 tonnes quarter over quarter. So it is no wonder that gold wasn't doing well in the second quarter of 2017. Since the election of Trump, gold has been in oversupply.

woensdag 2 augustus 2017

India improving current account deficit supports gold price

India's current account deficit has been improving, making the odds of a tax reduction from 10% to 2% more likely. This will spur more Indian demand in gold in the future.