Gold market awaits US jobs data and geopolitical cues in September
September is set to bring fresh volatility for gold, with US jobs reports and geopolitical tensions taking centre stage after a notable price decline.
Gold Market
Original summaries of the reporting that moves the gold price, with every source linked.
September is set to bring fresh volatility for gold, with US jobs reports and geopolitical tensions taking centre stage after a notable price decline.
A study by Taurex shows traditional assets including gold, Google and BAE Systems have delivered strong gains since end-2020, outperforming volatile crypto markets.
Gold, silver, platinum and palladium each have distinct supply, demand and market characteristics that affect their behaviour as assets.
Sovereign gold reserves are held by central banks for financial stability; the United States, Germany, and the IMF lead in holdings.
London's vaults store vast quantities of gold owned by central banks, commercial banks, ETFs, and private investors, with the LBMA setting standards.
The global gold market runs 23 hours a day through a chain of trading venues spanning Asia, Europe and North America.
A guide to reading CFTC positioning data for gold futures, explaining the three trader categories and how changes in their net positions can signal shifts in market sentiment.
Crude oil posted its first weekly decline in three weeks as improved flows through the Strait of Hormuz eased supply fears. Brent fell over 5%, WTI over 4%. The move has implications for gold.
Speculative gold positioning saw its largest weekly increase since early June in the week to August 25. CAD short covering led broader shifts across currencies and commodities.