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Gold/Mining/Energy : Chesapeake Gold
CKG.V 2.700+15.9%Nov 28 9:30 AM EST

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From: klinker7/26/2020 9:19:32 PM
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Here's Why JPMorgan Expects The Gold Surge To Continue



by Tyler Durden
Sun, 07/26/2020 - 18:3 Twitter Facebook Reddit Email Print



Helped by a sharply weaker dollar in the past month, and a collapse in real 10Y yields to all time negative lows of -0.93%...



... the price of gold made a new all time closing high surpassing $1900 on Friday with the December contract (where the most open futures interest can now be found) hitting an all time high, and gold has already jumped out of the gate with futures reopening on Sunday...

According to JPMorgan's Nikolas Panigirtzoglou, retail investors appear to have been mostly behind the recent rally (although the Robinhood army has yet to fully engage), and indeed the buying of physical gold ETFs, a major vehicle used by retail investors, rose steeply in recent weeks, making this year already the strongest on record with still five months remaining. This is shown in the chart below which shows the annual flow into physical gold ETF in metric tonnes.

zerohedge.com
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