Gold: high force before Obligations of Traders report

For example, the world’s largest gold ETF SPDR Gold Shares has seen outflows for nine days. Yesterday, Thursday, its gold holdings decreased from 923.69 to 922.23 tons. The market players are now eagerly awaiting the Commitments of Traders report from the US regulatory agency CFTC. Here, for the fourth time in a row, speculative market players are threatened by a decline in optimism – despite the extremely fragile financial markets and the prospect of a further explosion in government debt. From a technical point of view, the situation is also extremely exciting, after all, the gold price is currently in close contact with the long-term 200-day line.

 

Crude oil: attempt to stabilize

The oil price is currently benefiting from a newspaper report that US President Donald Trump could soon intervene and build up pressure in the oil war between Russia and China. The news also worried that the U.S. energy agency could add up to 30 million barrels of strategic oil reserves by the end of June. Furthermore, there were first short covers after the strong price jump. In the CBOE oil volatility index, all of this has led to a slight setback to 164 percent. As a reminder: at the beginning of the year, this risk barometer was only 28 percent. That means: Oil and risk are currently in abundance