Gold

Weekly COT Report: Bullish Exposure Hits A 5-Week High As of Tuesday 3rd September: Traders increased net-long exposure to USD by +$2.6 billion, which make them the most bullish on USD in 5 weeks at $13.1 billion (or $16.2 billion against G10 currencies) Traders of the US dollar index (DXY) were their most bullish in 6-months […]

The gold/silver ratio has rolled over once more. Whilst we can see it headed for the mid-70’s, a few technical indications point towards a pause first.   In percentage terms, we had suggested it could reach the mid 70’s if we’re to see a similar retracement to the one seen in 2016, and momentum during this decline […]

Weekly COT Report: Bullish Exposure on USD Continues To Dwindle As of Tuesday 27th August: Traders were net-long USD by $10.6 billion, down -$0.34 billion from the prior week to make a fresh 14-month low. Against G10 currencies, traders are net long by $13.68 billion, down -$0.82 from the prior week. Traders increased net-short exposure on […]

Gold Miners Could Shine In The Current Trading Environment We’re keeping a close eye on the ratio between gold miners ETF (GDX) against gold (XAU). We can see on the weekly chart that gold miners are trying to outperform the underlying metal, after hitting a major low in late 2016. Whilst the ratio corrected between […]

Price action on the gold/silver ratio suggests a correction could be underway, to Silver’s advantage. It goes without saying that gold has had a stellar couple of months and, given the backdrop of global negative yields and the potential for a Fed easing cycle (even though they currently deny this), we expect gold’s trend to […]

Weekly COT Report: Yen Remains In Demand As of Tuesday 13th August: Traders were net-long USD by $12.3bn overall, and $16.6bn against G10 currencies Large speculators are their most bullish on the Japanese yen since November 2016 The yen also saw the largest weekly change among FX majors, with traders adding +14.2k contracts to their […]

With Gold prices stretched and Bitcoin Around Key support, convergence could be approaching. In previous analysis we’ve highlighted a positive (although imperfect) correlation between Bitcoin and USD/CNY. And in recent times we’ve seen Bitcoin and gold rise in tandem during bouts of risk off, although we can see the relationship has broken down these past […]

Weekly COT Report: USD Long Exposure Drops To A 3-Month Low As of Tuesday 16th of July: Net-long exposure for USD hit a 13-month low at $11.66 billion ($16.4 billion against G10) Traders are their most bullish on CAD futures since March 2018 Sterling traders extend net-short exposure to a 10-month high FX majors weekly […]

Weekly COT Report: Traders Remain Wary Of King Dollar As of Tuesday 15th July 2019: Traders were net-long USD $12.38 billion ($16.95 against G10 currencies), up by $0.1 billion to snap a five-week streak of long reduction Large speculators have been net-long CAD for two consecutive weeks, and at their most bullish level since March […]

Following today’s FOMC meeting gold prices exploded and stopped just shy of $1400, as the world digested the increasing ‘easiness’ of central banks policies. The Fed had confirmed their dovish stance nearer the end of the US session, with nearly half of the voting FOMC members expect two cuts this year. Shortly after, RBA’s Philip […]