Market Sentiment shifting

Right now seems everyone hates Gold

Data from Thomson Reuters’ Lipper research unit last week showed precious metals commodities funds posted nine consecutive weeks of withdrawals, with $2 billion pouring out in June alone, the most since December 2016.

U.S. fund investors pulled $1 billion from commodity funds, including those invested in the precious metal, the largest withdrawals since July 2017, Investment Company Institute (ICI) data showed on Wednesday.

www.reuters.com/article/us-usa-mutualfun...uters+Wealth+News%29

Great interview here on Gold, inflation etc.

palisaderadio.com/jaime-carrasco-we-can-...the-storm-is-coming/

Looks like Gold is turning back up, it was probably taken down in price for the quarter end, the typical price management

The share of dollar reserves shrank for five consecutive quarters as the greenback weakened in the first three months of 2018 on expectations faster growth outside the United States and bets that other major central banks would consider reducing stimulus. Still the dollar has remained the biggest reserve currency by far.

www.reuters.com/article/uk-forex-reserve...er-imf-idUSKBN1JR21G

"Some people ask whether the Russian central bank sold them to support the ruble in April, but it's about changing allocation as reserves continue to grow," said Vladimir Miklashevsky, a senior economist at Danske Bank in Helsinki. "Rising U.S. yields have fueled the sell-off."

Russia sold $47.4 billion of Treasuries in April, more than any other major foreign holder of the U.S. securities, even as its reserves grew on the back of rising oil prices. Its stockpile of $48.7 billion is down from a 2010 peak of over $176 billion, ranking it only 22nd worldwide, according to data released Friday.

By contrast, the central bank keeps adding to its gold hoard, bringing the share of bullion in its international reserves to the highest of President Vladimir Putin's 18 years in power. The Bank of Russia said on Wednesday that its holdings of gold rose by 1 percent in May to 62 million troy ounces, valuing them at $80.5 billion. In May, Governor Elvira Nabiullina said gold purchases help diversify reserves. .

www.bloomberg.com/news/articles/2018-06-...fter-sanctions-scare

Excellent chart here on silver gold ratio. Looks like bull market coming soon

kimblechartingsolutions.com/2018/06/silv...imble+Blog+Posts+RSS

Gold broke above $1300 after rate increase, lets see if it can continue higher. Sell the rumour buy the news

And Gold bounces off the bottom of it's range once again.

Some big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold.

He said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while “overvalued” stock markets crash.

“In the end you have China and they will not stop consuming. And people also tend to go to gold during crises and we are full of crises right now,” Sawiris said at his office in Cairo overlooking the Nile. “Look at the Middle East and the rest of the world and Mr. Trump doesn’t help.”

www.mining.com/web/billionaire-says-hes-...&utm_campaign=digest

Silver on the verge of a break out

www.goldmoney.com/research/goldmoney-ins...k-out?gmrefcode=gata

Gold now at $1348, looks like another failed attempt to break upper resistance

Another bullet fro the US$


www.globaltimes.cn/content/1095841.shtml

The Shanghai debut of China's first yuan--denominated crude futures trading market on Monday proved a great success, with major domestic and foreign traders displaying active interest. Total turnover amounted to 18.3 billion yuan ($2.9 billion) on the first trading day.

The market's better-than-expected performance is believed to have significantly contributed to the recent strength of the yuan on global currency markets.

Goldman Sachs is expecting gold to "outperform" over the coming months.

www.cnbc.com/2018/03/26/goldman-sachs-ex...rket-correction.html

For the first time in more than five years, commodity analysts at the U.S. investment bank are bullish on yellow metal prices. Goldman's analysts said signs of an uptick in inflation and the "increased risk" of a stock market correction should both prove to be price supportive for bullion.

"Our commodities team believes that the dislocation between the gold prices and U.S. rates is here to say," Goldman Sachs analysts, led by Eugene King, said in a research note published Monday.

"Based on empirical data for the past six tightening cycles, gold has outperformed post rate hikes four times," the analysts added.