I better not to stay short too long.... My average entry price is 1,304.049.
(COT is a week delayed due to gov shutdown)
Largest Gold ETF Shrinks Most in Year as Trade Tensions Ease
https://www.bloomberg.com/news/artic...source=twitter
Investors are pulling cash from the world’s largest gold exchange-traded fund at the fastest pace in more than a year as easing trade tensions push buyers out of safe-haven assets.
The $33 billion SPDR Gold Shares ETF, or GLD, saw a net withdrawal of $496 million on Friday, the most in a single day since February 2018. That pushed the five-day total to about $720 million, marking the fourth consecutive week of outflows.
https://assets.bwbx.io/images/users/...44kE/-1x-1.png
Investors are weighing the prospect of a trade deal that could lift most or all U.S. tariffs, boosting risk appetite and dimming the appeal of havens. Commerzbank AG analysts including Carsten Fritsch attributed flows out of GLD and a dip in bullion prices below $1,300 an ounce to “good sentiment” in a research note. A strengthening dollar and a rebound in the equity market also eroded demand for bullion.
“Gold is thought to be a safe haven, particularly during pullbacks, anticipated downtrends and market volatility,” said Sylvia Jablonski, head of capital markets at Direxion, which specializes in leveraged ETFs. “We are hearing positive news on the anticipated progress between President Xi and Trump, which may lead some investors to perhaps consider risk and reduce -- or not add -- additional gold exposure in the near term.”
ETFs tracking gold miners have also lost cash lately. Investors pulled $148 million from the VanEck Vectors Gold Miners ETF and $142 million from the VanEck Vectors Junior Gold Miners ETF last week.
Gold fell for a fourth straight day in the spot market Monday, down more than 3 percent from the prior week.
— With assistance by Marvin G Perez
Largest Gold ETF Shrinks Most in Year as Trade Tensions Ease
https://www.bloomberg.com/news/artic...source=twitter
Investors are pulling cash from the world’s largest gold exchange-traded fund at the fastest pace in more than a year as easing trade tensions push buyers out of safe-haven assets.
The $33 billion SPDR Gold Shares ETF, or GLD, saw a net withdrawal of $496 million on Friday, the most in a single day since February 2018. That pushed the five-day total to about $720 million, marking the fourth consecutive week of outflows.
https://assets.bwbx.io/images/users/...44kE/-1x-1.png
Investors are weighing the prospect of a trade deal that could lift most or all U.S. tariffs, boosting risk appetite and dimming the appeal of havens. Commerzbank AG analysts including Carsten Fritsch attributed flows out of GLD and a dip in bullion prices below $1,300 an ounce to “good sentiment” in a research note. A strengthening dollar and a rebound in the equity market also eroded demand for bullion.
“Gold is thought to be a safe haven, particularly during pullbacks, anticipated downtrends and market volatility,” said Sylvia Jablonski, head of capital markets at Direxion, which specializes in leveraged ETFs. “We are hearing positive news on the anticipated progress between President Xi and Trump, which may lead some investors to perhaps consider risk and reduce -- or not add -- additional gold exposure in the near term.”
ETFs tracking gold miners have also lost cash lately. Investors pulled $148 million from the VanEck Vectors Gold Miners ETF and $142 million from the VanEck Vectors Junior Gold Miners ETF last week.
Gold fell for a fourth straight day in the spot market Monday, down more than 3 percent from the prior week.
— With assistance by Marvin G Perez
Simplicity is the ultimate sophistication - Leonardo da Vinci
This guy proved he's useless (His farther is also well-known mining investor). Its performance is lower than industry index. {image} It broke trenline and it has higher provability of going up IMHO...
{image} Movement Capital = freecotdata.com
