BAR remains pressured on the downside because investors continue to be overly optimistic about global economic growth and US-China trade relations.
But no US-China trade deal before the December 15 deadline could trigger a violent sell-off in risk assets, boosting haven demand and BAR.
Gold’s spec positioning improved slightly in the week to December 3, but ETF positioning deteriorated.
The long-term technical picture looks bullish.
Our year-end target for BAR is set at $16.00 per share.
Welcome to Orchid's Gold Weekly report. We discuss gold prices through the lenses of the GraniteShares Gold Trust ETF (BAR).
BAR remains pressured on the downside because investors continue to be overly