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Commodities Weekly: Bullish gold bets at 3-year high

From marketpulse.com

The ongoing trade turmoil and its implications for global growth is helping to boost precious metals. The energy sector is struggling however, while agricultural commodities have taken a hit following the latest USDA WASDE report. Precious metals Speculative investors boosted net long GOLD positions to the highest since September 2016, according to the latest data as at August 6 from CFTC. Gold soared the most in seven weeks last week amid falling global yields, global recession fears and potential currency turmoil. The metal was given an additional lift after Trump said Friday the proposed US-China trade ... (full story)

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  • Category: Fundamental Analysis