real-time news and commentary for investors
Monday, Aug 12
Gold gains as shorts cover positions
- Gold's up 1.3% to $1,329 per ounce amid CFTC data showing gold shorts covering 23.5K futures contracts last week - the equivalent of 2.35M ounces of the metal. Even after the big cover, the number of CFTC gold shorts remains above any level seen prior to this summer.
- Gold ETFs saw their first net inflows in 2 months last week. Their holdings now stand at about 35M ounces vs. around 50M at the start of the year.
- GLD +1.2% premarket.
- Other ETFs: IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.