On Friday, spot gold was highly choppy and volatile in reaction to the US nonfarm payroll report (August) as the report sent mixed signals on the possible pace of rate cuts that are likely to begin at the September FOMC meeting to be concluded on September 18, 2024. Fed officials’ comments on the US monetary policy also added to volatility in gold prices.
ETF holdings
Gold ETF witnessed a net outflow of ₹195 core in March
Investors infused over ₹1,600 crore in gold exchange-traded funds (ETFs) in 2019-20, after pulling out money for the last six financial years, as the coronavirus outbreak spurred safe-haven buying.
Silver Weekly Performance Report: Fighting The Bearish Momentum
📌 Silver has a tough year, down 16% YTD.
📌Spec positioning in Comex silver is extremely negative, the CFTC shows.
📌Contrary to gold, silver-ETF investors are value-driven, FastMarkets’ estimates show.
📌I expect silver to win its fight against the present bearish momentum.
📌I propose SLV to take advantage of a potential rally in spot silver prices in Q4 2018.