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- The Gold Trade is Far from Crowded as Fed Poised to Raise Interest Rate
The Gold Trade is Far from Crowded as Fed Poised to Raise Interest Rate
from King World News
The gold trade is far from crowded as the Federal Reserve is poised to raise interest rates.
Gold Trade Not Crowded
April 18 (King World News) – Fred Hickey: Love the early morning attacks on gold as soon as futures open past 3 days (and then partial rallies back rest of day) with gold still holding around $2K. Also 8.4 tons outflows from GLD ETF. Bears pressing- but not getting very far. Open interest sliding too (already at low levels).
Gold was overbought, so corrective period is healthy after recent runup. Assuming gold continues to dig in during the bear attacks (limiting damage), it’ll set gold up for rebound to record highs (and beyond). Meanwhile, I keep reading about a “crowded” gold market that doesn’t exist…