With no CTFC reports, look to ETF flows for gold

|By:, SA News Editor

The shutdown means no weekly CFTC reports on trader positioning, but gold ETF flows are reported on a daily basis, says Commerzbank. Last week's selloff saw heavy COMEX trading volume, with the bank suggesting large sell orders being placed as the price breached the $1,300 level. This was accompanied by 7.6 tons of ETF outflows on Friday, meaning holdings have already fallen by about 20M tons since the start of October.

The stalling of budget deal progress has seemingly given a bid to gold this morning, and it's ahead 1.2% to $1,283 per ounce.

GLD +1.1%.

Gold ETFs: GLD, IAU, SGOL, PHYS, AGOL, DGL, UBG, DGP, UGL, DZZ, GLL, DGZ, UGLD, DGLD, GLDI.