Gold ETF Holdings Near Highest Level Since 2013: BMO

Investors are continuing to buy gold in the form of ETFs, according to Bloomberg, which estimates that there were 14.4 tonnes added to gold-backed exchange-traded funds on Friday. This marks the biggest advance since December 26, pushing the total holdings to 2,253.20 tonnes — the highest since April 2013, says BMO Global Commodities Research analyst Colin Hamilton. “Friday’s … addition was the highest single day inflow thus far in 2019,” he writes on Monday. “We expect further inflows through February, as we head towards a period in March with considerable macroeconomic events with uncertain outcomes.” Central banks around the world are also continuing to add gold to their reserves. “The latest IMF release show[s] Kazakhstan, Brazil, India and Russia all having additional purchases in November,” Hamilton notes.

By Anna Golubova of Kitco News;


Gold Begins The Week In Its $1,280-$1,300 Range: MKS PAMP Group
Monday January 21, 2019 08:31

Gold is starting off Monday slightly down, with spot gold trading at $1,276.60, down 0.37% on the day. Current support is at $1,275 an ounce, says MKS PAMP Group. “Gold continues to operate within the recent USD $1,280-$1,300 range, with support extending toward USD $1,275,” MKS writes. During the Asian trading session, gold is weighed down by a recovering U.S. dollar, according to MKS. “We saw a modest recovery to the dollar during the afternoon to weigh upon bullion during the Chinese lunch break,” the analysts state. Price action is likely to remain muted on Monday as U.S. markets are closed for the Martin Luther King Jr. holiday.

By Anna Golubova of Kitco News;


Risk Appetite Continues To Rise With Asian Equity Markets In The Green: FXTM
Monday January 21, 2019 08:31

Investor risk appetite is continuing to rise on Monday as equities across Asian markets post gains, says FXTM chief market strategist Hussein Sayed. “The slowdown in China’s economy will not impact this sentiment much unless a negative update on U.S.–China trade negotiations is received,” Sayed writes. Also helping risk sentiment is the U.S. President Donald Trump stating that there has been some progress in towards a deal with China over the weekend. “Despite the complex situation, it seems markets are tending to believe that negotiations are moving in the right direction and this is likely to provide further support to risk sentiment,” Sayed says.

By Anna Golubova
For Kitco News


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