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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 396.28-0.7%4:00 PM EST
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To: TobagoJack who wrote (155088)3/24/2020 7:12:48 PM
From: bull_dozer  Read Replies (2) of 218863
 
>> The NY Gold Nearest Futures is still in a bullish position on yearly level of our model suggesting the trend
>> has not been reversed. The NY Gold Nearest Futures has exceeded last year's high making the 165336
>> years up. On the quarterly short-term level, this market is still bullish while the broader term is neutral to
>> bullish. Turning to the monthly level, this market remains in a bullish position. The NY Gold Nearest
>> Futures is in bearish position on the weekly short-term level of our model while the broader term is also
>> neutral to bearish.

Gold Faces Historic Squeeze With Virus Threatening N.Y. Shortage

The gold market in New York is facing a historic squeeze as the global pandemic chokes off physical trading routes at the same time that investors are piling into the metal as a safe haven.

At issue is whether there will be enough gold available in New York to deliver against futures contracts traded on the Comex in New York with metals refiners shutting and efforts to contain the virus halting planes. As of Monday, open interest in the April gold contract stood at 195,604 contracts, equivalent to 19.6 million ounces. The total deliverable stocks in Comex warehouses were 8.7 million ounces.

bloomberg.com
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