Gold: Trading at about $1407/oz after failing to hold onto the highs just shy of $1440/oz seen o
Gold: Trading at about $1407/oz after failing to hold onto the highs just shy of $1440/oz seen on Tuesday. The slightly firmer US dollar and modestly higher real US yields contributing to lower #gold prices in Europe on Wednesday. https://t.co/ebyOYBgRPd
As we noted on Monday, #gold had gone up quickly and without much of a pull-back and with the 14-day RSI hitting 87 yesterday and following the spec buying that had been seen in Comex, such a correction was unsurprising. https://t.co/Kevhrw2H1y
#Gold volumes have been heavy on Comex market recently, as is usually seen when gold comes back to life. But looking at intra-day data, yesterday’s jump in turnover seemed to occur as gold was heading lower, suggesting profit taking or so new https://t.co/bRggzilGhb https://t.co/TAa5Ry961i
The #gold volatility market has calmed somewhat compared to yesterday.
When I tweeted on Tuesday 3m atm vol was at 15.3 but ended the day at 14.3 - its now 13.7 at the time of writing.
3m 25d RR has declined a little but is still elevated at 3.47 vs 3.84 when I tweeted. https://t.co/MEHL9ebXu9
Finally, gold-backed ETFs added metal for the tenth successive day, according to Bloomberg robots. But the reported purchases of 14koz was much smaller than some of the increases seen of late.
Best of luck! https://t.co/vq1Hewo7Be
