Australia's largest stock trading and investment forum Australia's #1 stock forum

GOLD

Click for more information

0.51%

$1,391.7 gold futures

Getting back into GLD on the NYSE open.Gold is bullish.Dollar...

First 49320 Last

Share
Profile

Follow
trent3727

6,471 Posts.

210

25/03/19

23:36

Post #: 37880232
Share

Originally posted by trent3727: ↑

Gold holding up well despite strong dollar. There's been movement into gold as a "safety" play on stock market pullback. I got out too early. Look to get back into gold on a pullback.

For the week ending March 19, speculators (large and small) were net long 57.7k contracts of gold. That was up 10.7k from the previous week and the highest net long in 3 weeks, but historically still not high. Commercials were short by a ratio of 2.9:1 and were net sellers. That's the smallest short:long ratio the commercials have had since the week ending November 27, 2018 and it preceded a big move up. Swap dealers were short 1.5:1. Total open interest declined by 16k to 514k.

Friday's CBOE put/call ratio was a surprisingly low, 0.89 despite the fact that the Dow lost 460 points and the S&P dropped 54. The 10-day average of the put/call ratio is now the lowest since January 3. By itself this suggests more downside, but it's never good to go with a single indicator.

Expand

Getting back into GLD on the NYSE open.

Gold is bullish.

Dollar may be getting ready to break down in earnest.
1 Upvote

0 Great analysis

Reply

Top Stories

CNB

Carnaby Resources hits copper at Mohawk, QLD

YAL

Yancoal makes it into the ASX200 in latest S&P rebalance

GDC

Global Data Centres not clear on future operations after AirTrunk sale payout

RMX

Red Mountain Mining: record gold prices, two projects, two greenstone belts

CBL

Control Bionics expands into UK and Irish markets with NeuroNode device

There are more pages in this discussion • 79,582 more messages in this thread...

First 49320 Last

Add GOLD (COMEX) to my watchlist