For those obsessed alongside the electrical flow slam downward inwards gilded prices, realize that this is a short-term newspaper driven anomaly yesteryear the the U.S. key banking concern to protect the dollar from falling below 92 on the currency index. And the master copy argue to experience decent despite the $100 drib inwards the cost is because need continues to soar at tape levels inwards both the physical too newspaper markets.
On May 28, the Canadian Mint released their sales numbers for gilded maple foliage coins too for the quarter of 2016, purchases were upward virtually 20% from the same quarter inwards 2015.
The Royal Canadian Mint Sold 212,600 Ounces of Gold inwards the First Quarter of 2016.
First quarter 2016 Canadian Mint gilded sales rose 18.7% twelvemonth over twelvemonth inwards Q1 2016 from 179,100 ounces sold inwards the same quarter inwards 2015. First quarter 2016 gilded sales seat the Royal Canadian Mint on Track to sell One Milion ounces inwards 2016.
The Royal Canadian Mint released its first quarter 2016 report this week.
The study showed that Royal Canadian Mint kickoff quarter 2016 gold sales increased 18.7% twelvemonth over year from the kickoff quarter of 2015. (212,600 ounces vs. 179,100 ounces) - SGT Report
Additionally, in that location was an interesting too historic anomaly terminal calendar week inwards the Commitment of Traders (COT) study that shows opened upward involvement on the the U.S. Comex market. In it, speculators were leaving the gilded futures marketplace spell at the same fourth dimension the seat out of commercial traders going long inwards the metallic did too thence at the fastest charge per unit of measurement inwards the report's history.
Summary
Speculative traders abandoned gilded positions at a tremendous charge per unit of measurement over the yesteryear week.
While speculative bulls were dropping their gilded contracts, larger commercial traders were buying upward gilded long contracts at the fastest charge per unit of measurement inwards the report's history.
While nosotros convey been bearish on gilded for the yesteryear few weeks, nosotros straight off intend it is a skillful fourth dimension for investors to start re-establishing gilded positions.
In the latest Commitment of Traders study (COT), nosotros saw something real odd direct house simply it wasn't on the speculative side. Speculative traders did what nosotros expected them to create alongside the cost downturn - longs sold mitt over fists spell shorts increased their ain positions. But what was odd was that Commercial traders (the large buyers of gold) increased their positions yesteryear the largest weekly sum inwards the history of the novel COT report. - Seeking Alpha