Gold Snapshot, Mar 4, 2024
Gold prices finished the week just shy of $2,100 level, recorded its best weekly gains since November, boosted by FED Waller after hinting at an ‘operation reverse-twist’. See below the key highlights from our weekly gold snapshot this week:
Comex Gold Apr’24 ended the week higher up 2.3% at $2,095 per ounce, amid lower dollar and yields. It was the highest daily close ever for the metal.
Week to-Week Open Interest increased by 40,627 or 9.8% to 454,351 lots (45m ounces). 30,269 lots were added on Friday only, largest daily increase since May 2018.
Call wall increased from $2,050 to $2,100 (highest gamma level) for the Apr’24 contract, which is bullish for the metal.
Bets for out of the money (OTM) options remain decent, judging by the skew. Implied volatility has been increasing for OTM call opTons, meaning higher demand for calls (page 3 of the report).
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.
Latest articles
Tool and strategies modern teams need to help their companies grow.
Invite users to stay updated with exclusive insights and market trends by subscribing to the newsletter.
InProved Pte. Ltd. (“InProved”, UEN 201602269C). InProved is regulated by the Ministry of Law (“Minlaw”) and holds a Precious Stones and Precious Metals license for dealing in bullion products (PSPM License PS20190001819). For additional legal and privacy related information related to InProved, please visit are terms and conditions.
Our products and services are only available to Accredited Investors. Investing in bullion involves risk, and there is always the potential of losing money. Certain bullion products are not suitable for all investors. The rate of return on investments can vary widely over time, especially for long-term investments. Past performance is no guarantee of future results. Before investing, consider your investment objectives and any fees and expenses that may be charged by InProved and any third-party stakeholders. The content provided herein is for informational purposes only and is not investment or financial advice, tax or legal advice, an offer, solicitation of an offer, or advice to buy or sell or hold bullion products. This material has not been reviewed by the Minlaw.
Statements made are not facts, including statements regarding trends, market conditions and the experience or expertise of the author or quoted individual(s) are based on current expectations, estimates, opinions and/or beliefs. Opinions expressed by other members on InProved should not be viewed as investment recommendations from InProved. Endorsements were provided at the request of InProved. InProved is not affiliated with and does not purport to own or control any third-party content linked herein.
Copyright © 2025 InProved Pte Ltd (UEN 201616594C, PSPM license PS20190001819)