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Gold gains strength on dollar weakness, ETF flows positive

Posted on 14 July 2014

Gold gain strength on a weaker dollar last week while inflows into exchange traded funds (ETFs) remain positive. Barclays said in a weekly report that release of FOMC minutes would have impact on the market. Tapering may conclude in October while but not confident enough to provide firm guidance on the expected timing of any rate hike.
“Gold ETP flows have been largely positive recently,and although they may have lent support to prices, we do not think this move is sustainable in the long term. Net speculative positioning in COMEX gold has continued to rise in recent weeks, with last week capping off a one-month streak of increasing net speculative positioning. In summary, investor demand has been strong lately, but we would caution against interpreting this as a longer-term change in investor sentiment.”……………………………………….Full Article: Source


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