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‘This commodity rally does not look like a head fake’ - TS Lombard

TS Lombard says the overall commodity space may remain higher for an extended period of time. ‘This commodity rally does not look like a head fake’ - TS Lombard. The firm says the global economy is shifting gears towards a ‘sticker-for-longer’ inflation stance.

Hard To Make A Bearish Case Against GLD

SPDRR Gold Shares Trust has struggled to maintain its high valuations, leading investors to question if the bull run in precious metals has come to an end. Recent price activity in GLD has been decisive, correlating with rising U.S. Consumer inflation data. GLD's recent breakout activity sent fund valuations into overbought territory, but these indicators can be distorted by broader trend activity. Long-term flows in the SPDR Gold Trust have flipped into negative territory.

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.

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.

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.

Gold And Bitcoin Rallies Vs. U.S. Dollar Strength

Gold's Big Day: Market Shake-Up!

Gold prices have dropped significantly as geopolitical concerns ease. Iran's backing away from conflict establishes it as a major nuclear presence, supporting gold prices. The price of gold has made the biggest one-day drop in over a year. Inflation concerns can present headwinds for gold as an investment. Market analysis suggests a correction may occur at this time and price.