Gold Demand Trends Q1 2024

Q1 gold demand slipped 5% y/y to 1,102t, due to continued ETF outflows. Central banks and OTC drove price. Total gold demand increased 3% in Q1 – the strongest first quarter since 2016. The LBMA gold price averaged a record US$2,070/oz in the first quarter. Technology demand for gold recovered 10% in the electronics sector.

Is The Comex Showing An Impending Price Spike In Silver?

April is a major delivery month in gold and silver. The CME Comex data suggests there is a lot of interest in physical silver right now. The data is looking similar in silver this month. The Comex report last month showed strength in gold before a pullback in the price.

World gold demand rises in Q1 despite record-high prices - WGC

Commodity Roundup: Gold below $2,300/oz as traders gear up for Fed rate decision

Commodities Energy Commodity Roundup: Gold below $2,300/oz as traders gear up for Fed rate decision. Gold prices held steady on Wednesday, as markets braced for the U.S. Central bank's decision. In the energy market, oil prices dropped more than 1% with WTI futures trading around $80 a barrel.

Gold wraps up third straight monthly gain despite one-day drop as demand stays strong

Gold futures for May delivery closed Tuesday at a one-week low of $2,291.40/oz, down 2.3%. The metal's third straight monthly gain of 3.3% in April. The dollar and U.S. Treasury yields rose, but strong safe-haven demand and central bank buying ensured the metal's strength.

Commodity Roundup: Copper retreats from recent highs on profit-taking; precious metals fall

Gold edges higher ahead of this week's Fed rate decision meeting

Gold futures rise ahead of this week's Fed rate decision meeting and U.S. Non-farm payrolls data. The Fed is expected to hold its benchmark interest rate steady at a meeting on Wednesday. Front-month Comex gold futures for May delivery rose 0.4% on Monday.

Weekly Report: what happened at PHYS last week (0422-0426)?

Commodity Roundup: Gold steady after last week's correction, focus on Fed

Commodities Energy Commodity Roundup: Gold steady after last week's correction, focus on Fed Apr. 29, 2024. Gold prices log worst week this year as markets focus on the Federal Reserve's interest rate decision. Brent crude futures dip below $89 a barrel as Middle East tensions drive oil prices lower. A heavily shorted grains sector saw strongest week of net buying since July.

Navigating The Gold Market Storm: Geopolitical Strains, Fed Anxiety, And Economic Swings

Gold: Will It Keep Its Shine?

Gold prices are surging to record levels amid a complex global economic backdrop. With its low correlation to equities and ability to help mitigate recessionary and inflationary pressures, gold's attractiveness is underscored by robust demand from emerging market central banks. Recently, gold prices reached all-time highs despite a rally in risk assets and a stronger U.S. Dollar. Gold is shining as a potential diversifier within multi-asset portfolios.

Gold's weekly loss worst since December as geopolitical risk premium eases

Gold's weekly loss worst since December as geopolitical risk premium eases. Gold posted its first weekly loss in six, marking its worst week since early December. Front-month Comex gold for April delivery ended the week -2.6% lower. Fresh U.S. Inflation data reinforced the view that high interest rates are here to stay.

UBS sees total returns of ~10% for commodity indexes over the next 6-12 months

UBS sees total returns of around 10% for broad commodity indexes over the next 6-12 months. Brokerage says recovery in global industrial activity, prospect of lower interest rates will push prices higher. UBS sees scope for gold prices to rise further, with a December price target of $2,500/oz.

Commodity Roundup: Gold snaps 5-week winning run, Brent hovers near $90/bbl

Gold snaps 5-week winning run, Brent hovers near $90/bbl. Oil benchmarks ticked up on the day, with Brent up more than 2% for the week. US economic growth slowed more than expected in the first quarter. Exxon Mobil and Chevron report first-quarter earnings on Friday.

Here are UBS's top gold picks as stocks appear inexpensive amid wider rally

Gold stocks appear inexpensive and have abnormally lagged the gold price, UBS says. The stocks are trading on a P/E relative that is 40% below its norm. The investment bank calls on investors to continue to be overweight gold stocks. Gold miners have failed to match a blistering rally in gold recently.

Commodity Roundup: Oil, gold firm ahead of U.S. GDP data, natgas down

Oil prices rise on fears of a wider conflict in the Middle East. Israel said it plans assault on Hamas hold-outs in Rafah. Brent crude futures rise 0.15% to $88.03 a barrel. Spot gold trading higher ahead of U.S. GDP data, natgas down.

Gold Market Update

Gold recently became extremely overbought in momentum terms against all major fiat currencies. The probability is high that the gold price has either just set a multi-month price top or will soon do so. The euro, the Yen, the Swiss franc, and the Canadian dollar recently became as stretched to the downside relative to gold as they have been in 15 years.

Commodity Roundup: Oil prices ease; LNG supply risks remain high, ANZ says

Commodities Energy Commodity Roundup: Oil prices ease; LNG supply risks remain high, ANZ says. Subdued demand has eased concerns about supply shortages in global gas markets. Significant risks to supply still remain due to the ongoing conflict in Ukraine and the Middle East. European natural gas futures eased after rising from a two-week low. Crude oil prices ticked lower despite surprise drop in crude stockpiles.

Gold's sharp two-day correction overdue and healthy, analysts say

Gold futures extended their losses Tuesday in the largest two-day percentage decline since February last year. Gold's correction is long overdue and healthy, Saxo Bank's Ole Hansen says. Silver also has corrected sharply in sympathy with gold. J.P. Morgan forecasts gold prices ending 2024 averaging $2,500/oz.

Mainstream Fund Managers Jumping On The Gold Bandwagon

Big money managers are starting to jump on the gold bandwagon as inflation worries grow. Over the last few weeks, gold held its ground despite a strong dollar and rising bond yields. 83 percent of big fund managers are now long precious metals. The Federal Reserve isn’t winning the inflation fight.