Gold stops after the rebound of the last sessions of yesterday and reaches 1,728 usd.
Despite the recent reaction the situation is not positive, March confirmed the seventh negative month of the last eight with a loss of -1.6%.
The first quarter of 2021 was the worst in four years with an overall decline of 10% in dollars and 6.40% in euros. To find worse, we need to go back to -12% in the fourth quarter of 2016.
Accelerating vaccination plans, rising yields and a strong dollar are a deadly cocktail for the prospects for the precious metal, long associated with the safe-haven category, as a store of value.
Not for nothing, the yellow metal had its moment of glory during the peak of the pandemic, going from lows in March 2020 of around $ 1,500 to an all-time high of nearly $ 2,100 in August 2020. Since then it has plummeted by 20%.
Statistics show that ETFs continue to ease positions. In the last trading session of the quarter, specialist funds cut an equivalent of 116,034 ounces (troy), bringing this year's net sales to 6.91 million ounces, according to data compiled by Bloomberg.
The amount of total gold held by ETFs fell 6.5% this year to 99.8 million ounces, the lowest level since May 26, 2020.
Graphically, starting from August, the trend is set down and is inserted in the decreasing channel highlighted, the downside was widely expected. The achievement of the first target positioned towards the discriminating threshold around 1.676 usd, the minimum reached in mid-March, triggered the ongoing rebound.
However, it is a physiological reaction dictated by oversold excesses. Signals of a restart of the bullish trend would come only with the stable return above 1,800 / 1,830 usd.
Today's figure will be decisive to understand if there will be inflation. At that moment I will be ready to buy, as you can see in the image inside the link, I will use my platform that allows me a 1:200 leverage on gold and a margin of only 0.5% to carry out the operation.
https://cdn.shopify.com/s/files/1/0065/8856/3508/files/Cattura_4ccefd80-c5a3-4f92-aab6-c92add02b02d_480x480.jpg?v=1618305750
Below you'll find more information on how to follow me.
Despite the recent reaction the situation is not positive, March confirmed the seventh negative month of the last eight with a loss of -1.6%.
The first quarter of 2021 was the worst in four years with an overall decline of 10% in dollars and 6.40% in euros. To find worse, we need to go back to -12% in the fourth quarter of 2016.
Accelerating vaccination plans, rising yields and a strong dollar are a deadly cocktail for the prospects for the precious metal, long associated with the safe-haven category, as a store of value.
Not for nothing, the yellow metal had its moment of glory during the peak of the pandemic, going from lows in March 2020 of around $ 1,500 to an all-time high of nearly $ 2,100 in August 2020. Since then it has plummeted by 20%.
Statistics show that ETFs continue to ease positions. In the last trading session of the quarter, specialist funds cut an equivalent of 116,034 ounces (troy), bringing this year's net sales to 6.91 million ounces, according to data compiled by Bloomberg.
The amount of total gold held by ETFs fell 6.5% this year to 99.8 million ounces, the lowest level since May 26, 2020.
Graphically, starting from August, the trend is set down and is inserted in the decreasing channel highlighted, the downside was widely expected. The achievement of the first target positioned towards the discriminating threshold around 1.676 usd, the minimum reached in mid-March, triggered the ongoing rebound.
However, it is a physiological reaction dictated by oversold excesses. Signals of a restart of the bullish trend would come only with the stable return above 1,800 / 1,830 usd.
Today's figure will be decisive to understand if there will be inflation. At that moment I will be ready to buy, as you can see in the image inside the link, I will use my platform that allows me a 1:200 leverage on gold and a margin of only 0.5% to carry out the operation.
https://cdn.shopify.com/s/files/1/0065/8856/3508/files/Cattura_4ccefd80-c5a3-4f92-aab6-c92add02b02d_480x480.jpg?v=1618305750
Below you'll find more information on how to follow me.