On Twitter: A week in review
In this blog post, read a collection of Tweets from John Reade on gold.
In this blog post, read a collection of Tweets from John Reade on gold.
Comex #gold premium to OTC gold has climbed sharply as this chart from Bloomberg shows.
On 23/03 at 6am the EFP stood at about $6/oz. A day later, this has blown out ot more than $20/oz.
Due to shortages of investment gold and difficulties in shipping metal around. https://t.co/IILG0v5eSl
Gold rallied on Friday following the LBMA fix which left the fix price flat on the week and XAU higher (XAU +2%, LBMA -0.1%) as yields fell following the Fed rate cut which left the market thinking the ‘organic growth’ Powell discussed could represent future QE.
With the recent rally, Gold trading volumes have increased significantly in June ($151bn vs ytd average of $115bn), particularly in the LMBA OTC market, which has seen averages increase 50% this month.
Week ending 29 March 2019