Will The Indian wedding Season Arrive In Time To help Gold Bulls?
Gold bulls have not had a 12 months to smile about, regardless of geopolitical anxiety in the world, a U.S. President liable to erratic market relocating tweets and the purported 'refuge' repute of the precious steel.in keeping with Reuters statistics, COMEX gold futures are down 7.25% on an annualized basis the use of Tuesday August 21 as a reduce-off aspect, whereas chapter gold in Dubai is down 7.5% over a similar duration. On a 12 months-to-date groundwork, the decline comes in at eight.7% for COMEX futures and 9.three% for Dubai chapter gold. Market evidence suggests shorting is in full swing, given the energy of the greenback. The U.S. Commodity Futures trading commission CFTC information published remaining week shows that cash managers, together with hedge cash, extended their web-brief bets on gold, for the week ending August 14, to essentially the most