Short interest as a percentage of shares outstanding on the SPDR Gold Shares ETF (NYSEARCA: GLD) It is near the lowest since July 2009, while the bullish call options volume on the ETF recorded its second-biggest jump until last week before the bullion rose to $ 1,946 / oz. today.
The bullish momentum coupled with the falling dollar has fueled “surprising” speculation in precious metals, analysts at Sundial Capital Research say.
Demand for gold has been insatiable in the ETF market, and total holdings of gold in ETFs rose to a record last week with an 18th consecutive week of entries, according to Bloomberg.
The avalanche of cash in gold ETFs is evidence that retail investors are driving the record bullion race, analysts at JPMorgan Chase say.
Meanwhile, CIBC analysts believe that gold could hit $ 2K / oz. and higher as prices continue to be supported by tensions between the United States and China, worries about the virus and an uncertain economic recovery, but they expect a correction in the short term as the price increase “has come a little ahead “, with a probable correction in the near future. finished.
ETF: GLD, GDX, NUGT, IAU, GGN, DUST, PHYS, SGOL, UGLDF, BAR, UGL, AAAU, GLDM, SGDM, ASA, RING, GOEX
