Gold Finished the Quarter with a Gainer, Bulls Happy

Gold Finished the Quarter with a Gainer, Bulls Happy

Gold Finished the Quarter with a Gainer, Bulls Happy


Gold Bulls are finding Y 2018 a Happy Time so far.=.

Gold is wrapping up a 3rd quarterly gainer, something not seen since Y 2011, and ETF (exchange-traded fund) holdings are near the highest in 5 years.

Safe-haven demand may also get a boost with foreign-policy Hawks flying into Washington, DC.

While spot Gold is up 1.5% this Quarter, following a 1.8% gainer in Q-4 of Y 2017. The rise comes even as the Fed has been raising US interest rates and despite Wednesday fall being the most since July.

Gold’s safe-haven qualities have come back in focus this year as US President Donald Trump’s Administration tightens up on trade issues, and investors worry about stock market consolidations that started on Wall Street and circled worldwide.

At the same time, geopolitical tensions with NKorea are easing, and President Trump’s pick of former UN Ambassador John Bolton as his new national security adviser has caused speculation of a harder line against Iran.

President Trump’s appointees Messrs Bolton and  Mike Pompeo have a Hawkish impact increasing safe-haven buying in Gold, as growing geopolitical risks raise concerns of supply-side issues in the Crude Oil market.

Holdings in Gold-backed ETFs hit 2,268.6 tonnes last week, the most since Y 2013, data shows. The hoard has risen about 43 tonnes YTD, the 8th Quarterly rise in 9. The USD has weakened and global equities are set for the 1st Quarterly fall in 9.

Trading activity in the precious Yellow metal has also soared. Volume on the COMEX exchange, the biggest futures market, hit a record 23-M contracts in Q-1 Y 2018, according to the data

Symbol Last Trade Date Change Open High Low Volume
GLD 125.79 29 March 2018 0.06 125.42 125.81 125.31 7,117,100
HeffX-LTN Analysis for GLD: Overall Short Intermediate Long
Neutral (0.02) Neutral (0.05) Neutral (-0.04) Neutral (0.06)

Have a terrific Easter weekend.

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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