Gold: Prices continue to hold north of $3000 – TDS
Source Fxstreet
Macro funds played a role in last week's melt-up in Gold prices, TDS' Senior Commodity Strategist Daniel Ghali notes.
Recent liquidations are likely related to constrained risk-budgets
"Our advanced positioning analytics corroborates our view that macro funds played a role in last week's melt-up in Gold prices, suggesting that recent liquidations likely related to constrained risk-budgets, as opposed to a directional view on Gold."
"Considering this cohort's net position still remains at levels broadly consistent with early-2024, and that prices continue to hold north of $3000/oz, we think their repleted warchest will chase the run higher in prices, fueling more FOMO into the yellow metal. It's still 'heads I win, tails you lose', but it's the other side of the coin that is now screaming FOMO."
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Bitcoin (BTC) edges below $73,000 at press time on Monday, extending its decline under the prevailing downside pressure from three consecutive weeks of losses.
Fed’s Powell says credibility lost if President can fire officialsFormer Federal Reserve (Fed) Chair Jerome Powell said the US central bank would damage public trust that’s required to support a strong and stable economy if any president were free to dismiss Fed officials over policy disagreements, Bloomberg reported on Monday.
Former Federal Reserve (Fed) Chair Jerome Powell said the US central bank would damage public trust that’s required to support a strong and stable economy if any president were free to dismiss Fed officials over policy disagreements, Bloomberg reported on Monday.
Here is what you need to know on Friday, May 29:
Understand how the Strait of Hormuz shock moved markets, and what CFD traders watched next.
Discover the best Japanese stocks to buy, including AI semiconductor leaders, Buffett-backed trading houses, and undervalued Japan stocks benefiting from corporate reforms and yen trends.
Related Instrument
