Strong Inflows To Gold ETFs
Category: Market Reports
Author Name: Walter Pehowich
Posted: 05-02-2016 12:19:00 PM
Author Name: Walter Pehowich
Posted: 05-02-2016 12:19:00 PM
Gold prices continue in a strong pattern coming into the new week.
SendWe start the week viewing strong inflows into the gold ETF funds. Fueling the rally is a continued weakness in the dollar. Dollar index below the 93 level, a level most Wall Street gold traders were looking for to confirm the bull is alive and well in the gold market.
Silver struggling here a little after a strong rally last week. Profit taking abound in the gray metal, as some believe the price rallied to fast and now needs to take a breather and consolidate at these levels before it can start another upward move.
Open interest in the CME gold contract stands at 549,520 contracts, at levels we have not seen in quite sometime which indicates there are a lot of speculators in the game. Nothing wrong with a lot of participants, it creates volatility which attracts investment.
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About The Author
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Author Name: Walter Pehowich This editorial has been prepared by Dillon Gage Metals. This document is for information and thought-provoking purposes only and does not purport to predict or forecast actual results. It is not, and should not be regarded as investment advice or as a recommendation regarding any particular security, commodity or course of action. Opinions expressed herein are current opinions as of the date appearing in this editorial only and are subject to change without notice. Reasonable people may disagree about the opinions expressed herein. In the event any of the assumptions used herein do not prove to be true, results are likely to vary substantially. All investments entail risks. There is no guarantee that investment strategies will achieve the desired results under all market conditions and each investor should evaluate its ability to invest for a long term especially during periods of a market downturn. No part of this editorial may be reproduced in any manner, in whole or in part, without the prior written permission of Dillon Gage Metals. This information is provided with the understanding that with respect to the opinions provided herein, that you will make your own independent decision with respect to any course of action in connection herewith and as to whether such course of action is appropriate or proper based on your own judgment, and that you are capable of understanding and assessing the merits of a course of action. You may not rely on the statements contained herein. Dillon Gage Metals shall not have any liability for any damages of any kind whatsoever relating to this editorial. You should consult your advisors with respect to these areas. By posting this editorial, you acknowledge, understand and accept the foregoing. |
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