All articles tagged with #speculative interest
Despite the record-setting rally in various asset classes, the surge in gold prices has not led to an increase in speculative interest, as gold ETF holdings have actually decreased as the price has spiked higher, presenting an anomaly in the market.
Gold's strength now relies on how much support is in the marketplace, even as speculative interest starts to drop. The Federal Reserve's hawkish pause caused gold prices to drop to a three-month low, testing support at $1,930. However, the gold market did not stay down for very long, as it was back in its previous $30 trading range before the end of the week. Hedge funds are starting to test the waters in the silver market for the second consecutive week. Copper has seen a significant bounce off last month's lows, but the rally could be running out of momentum.