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Standard Chartered: Long-Term Investors' Gold Positions 'Resilient'

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Standard Chartered says long-term investors with big positions have been “resilient” when it comes to gold. Analysts note that largest gold exchange-traded-product holders have halved their gold exposure over the past five years. “The latest [Securities and Exchange] 13F filing requirements show that at the peak, the top 15 holders held a 12% share of all ETPs. This has now fallen to 7%, with most holders scaling back exposure, but a fifth increasing exposure. Importantly, all bar one have maintained exposure to gold, reaffirming long-term gold investors’ resilience. The data for Q4 2017 shows fewer newcomers in the top 15 buyers for the quarter, but gold nonetheless continues to attract new investors.”

By Allen Sykora of Kitco News; asykora@kitco.com

 

CME Group: Feb. Metals Volume Up From Year Ago But Down From Jan.

Friday March 02, 2018 09:12

Exchange operator CME Group reports that metals volume averaged 690,000 contracts per day in February, up 32% from 523,000 in February 2017. However, sequentially, the total was down 10% from the record 763,000 average in January. Daily average volume in gold futures and options grew 38% year-on-year 380,000 contracts, while the same for copper rose 28% to 159,000 contracts and those for silver rose 21% to 121,000 contracts. On a three-month, rolling-average basis, daily metals volume averaged 662,000 contracts for the period ending with February. This was down from 684,000 for the period ending with January, but up from 616,000 for the comparable period ending with December and 657,000 for the period ending with November.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Commerzbank: Investors Use Gold Weakness As Buying Opportunity

Friday March 02, 2018 09:12

Commerzbank analysts point out that based on data for exchange-traded funds, investors apparently used Thursday’s initial sell-off in gold as a buying opportunity. The metal fell to around $1,303 an ounce, roughly where the psychologically important $1,300 mark coincided with the technically important 100-day moving average. The metal later recovered as the U.S. dollar and stock market fell following the announcement of protective tariffs in the US. “The world’s largest gold ETF, the SPDR Gold Trust, registered inflows of 2.9 tonnes yesterday,” Commerzbank says. “Evidently some investors viewed the low price level as a buying opportunity.”

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.