Gold Snapshot, Mar 11, 2024
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Gold and Bitcoin represent two very different facets of investment, each with its own characteristics, benefits, and risks. Gold’s enduring value and stability make it a favored asset for conservative investors, while Bitcoin’s innovative nature and growth potential attract those looking for high returns and who believe in the future of digital currencies. As the financial landscape evolves, both assets will likely continue to play significant roles, albeit catering to different investor preferences and world views.
COMEX Gold Apr’24 ended the week higher up 4.3% at $2,185.5 per ounce, its best week since October 2023.
Week to-Week Open Interest increased by a stellar 91K lots to 535,353 lots (53m ounces). 28,246 lots were added on Friday only.
COT report covering the week to March 5th shows managed money (funds) hit the BUY button increasing their bullish bets for a fourth consecutive week by 95.6% or 53,610 lots to 109,763 contracts and it doesn’t even reflect the last three days buying frenzy (page 2).
Download our gold weekly snapshot below. If you have any questions regarding the latest gold movements or gold investment advice don’t hesitate to reach out to our InProved analysts.
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