Procure investment-grade 1kg gold bars at spot +0.25%. Enquire within.

Gold Snapshot, Dec 4, 2023

In our new Gold Snapshot: Gold futures hit all-time high in USD, closing above $2,070 an ounce after dovish FED duet (C. Waller & J. Powell).

  • Comex Gold futures shot up 1.6% on Friday closing at $2090 per ounce, surpassing the previous high set on August 2020.
  • Fed funds futures are now pricing in five rate cuts by the end of 2024.
  • Raging Bulls seem unstoppable, raising Week to-Week Open Interest by 11,017 lots or 1.1 M ounces, to 510K contracts (6-month high), as traders continue to increase their long bets.
  • COT report covering the week to Nov 28 showed managed funds were net-long for seventh straight week increasing their position by 45% (35,758 lots or 3.8M ounces) to 114,893 contracts. (page 2)
  • Trading flow reflected a frenzy of calls buying, generating a rise in implied volatility for calls/upside strikes. Gold options activity remains supportive for the metal, with call wall (highest gamma) rolling higher to 2100. (page 3)
  • A breakout above $2,100 could lead to some FOMO…

Want to know more?

Talk to your consultants to pick their brains about Gold Prices.

Learn More

Most Recent Posts

  • All Post
  • Blog
  • Fund Management
  • In Depth Analytics
  • Topics
  • Uncategorized
    •   Back
    • Tax Benefits
    • Company Details
    • Gold
    • Directors
    • Beneficiaries
    • Financial Accounts
    • Digital Services
    • Promotions

Category


Tags