IMF back into Gold
Institutional large speculators and managed money are buying Gold again and this time at higher levels than their first buys after the Trump MAGA win. During these last few weeks while Gold has traded down, Institutional money flow has picked up according to the Commitment of traders report. This could help Gold trade back above the $1,350 level, IMHO.
A quick side note: ZeroHedge put out a piece today that Chinese Golden Week has been responsible for weak demand every year from 2013 until the holiday is over. It then tends to bottom after the holiday. (I've never heard of this before and I've also never traded the India demand either)
So I say, Buy with the institutions and if you're front running the traders before they come back from holiday and you get better prices, than great! Of course, if the Chinese Golden Week and Gold relationship is a real thing then you can say that's the reason if you want. I'll stick with the IMF.
Here is the article:
FYI- here was my Gold topped call.
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