United States CFTC Gold NC Net Positions increased to $222.2K from previous $217.9K
As trading comes to a close this week, one of the most relevant themes across financial markets continues to be the strength displayed by gold in the short term. Over the last three trading sessions, the precious metal has gained nearly 7%, highlighting the return of a meaningful bullish bias within the market.
Silver and platinum markets have also gained strong upside momentum.
Gold hits three-month peak above $4,600 as Middle East risks fuel rally
Gold Weekly Forecast: Bulls dominate as US Treasury Department intervenes in bond market
Gold: Upside asymmetry into next week – TD Securities
Gold bulls regain control as price attacks $4,600
Gold: Safe-haven bid on US debt worries – Commerzbank
Gold traded above 4,500 USD per ounce on Friday, on track to close higher for the third straight week. Demand for safe-haven assets has increased amid heightened volatility in foreign exchange and debt markets.
Markets continue to debate the US Treasury decision to double long-term debt buybacks this week, with the dollar falling off again as Treasury yields stall after a bounce yesterday.
Gold on track for third consecutive weekly gain
Can Treasury intervention keep the Gold rally alive?