Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
💰 Buffett reveals a $6.7B stake in Chubb. Copy the full portfolio for FREE with InvestingPro’s Stock Ideas toolCopy Portfolios

ETP Holdings In Gold, Silver Reduced Despite Rally

BySaxo Bank
AuthorSaxo Bank
Published 01/06/2014, 06:06 AM
Updated 03/19/2019, 04:00 AM

The positive beginning to 2014 for precious metals did not trigger much cheer in the world of exchange traded products where holdings were reduced across the four metals tracked in this report. This could indicate that the primary driver behind the rally seen so far, especially for gold, has been driven by short covering in the futures market and strong physical demand out of China.
ETP Holdings
The weakness in gold seen towards the end of 2013 has so far been pushed aside as news about increased demand from China and potentially India together with short covering from hedge funds has more than offset a continued lukewarm response from investors trading gold through ETPs. In China, the premium paid for taking immediate delivery of gold has stayed elevated above USD 20 per ounce the past few days while in the futures market, hedge funds have been scaling back gross-short positions which stood near record highs as 2013 came to a close.
Gold Held
Silver has remained rangebound since November and as a result, we have seen holdings being reduced in seven out of the past eight weeks. A clear break to the upside above current resistance at USD 20.51 per ounce now seems necessary in order to change the current sentiment towards risk reduction.
Silver Held

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.