Geo-political risk and uncertainty in US policy and increase in speculative activity cheers gold prices: Angel Broking

Monthly Report on Bullion by Mr. Prathamesh Mallya (Chief Analyst - Non-Agri Commodities & Currencies, Angel Commodities Broking):

"Uncertainty coming out from elections in Europe, policies of the new Trump government and rate hike will remain the talk of the town in the months ahead. Precious Metals to trade positive as economic environment remain unfavorable. The investment demand for gold in March has been flat with an outflow of around 8 tonnes from the SPDR gold trust. The current holding as on 5th April stands at around 836.76 tonnes.

The CFTC report indicates that speculative activity in gold has been on the rise for most of March. The net longs in gold have increased by 49315 contracts to 99150 contracts when compared to 14th March 2017, when it was around 48935 net longs. In case of silver, the CFTC report indicated that net longs in silver have increased by 13765 contracts to 81601 contracts in the same time frame as mentioned for gold."

Source : Equity Bulls

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