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OT: Gold (Nagual, gold monthly? TIA)
Posted by Tango
on October 8, 2019, 8:58 am
Gold rally today is responding to negatives in stocks, adding worries to usual China, Tariffs Eurozone,Brexit,South American worries,Middle East and now Turkey.Investors are more worried by no clarity and upcoming China talks are deemed even more uncertain now.Everywhere investors look around the globe they find reasons for worry and owning gold is one of the answers.Open interest tells a story gold futures 614,787, not much change with volatility recently shows buyers on big dips,copper 257323,also not much after recent moves,options on gold futures 1,756,887 steady ahead of Decembr roll overs where most open interest in gold,silver,copper are,silver 211,321.Gold-plat 616.70,gold-silver 85.80 still high, palladium easier as China slows demand or electric cars.Still looking at gold holding 1500 area,improving later as more headlines appear that are political,geo political and causing risk aversion.
RBC Wealth Management
Managing Director –senior consulting group- Financial Advisor