Gold closes above $1,900 as fundamentals 'have never been better'

• Gold futures settled above $1,900/oz. to turn positive for the year, but spot gold has since edged back below that threshold amid a rebounding dollar and U.S. Treasury yields.
• June gold (XAUUSD:CUR) closed +0.2% to $1,901.20/oz. for the highest settlement since Jan. 7 based on the most-active contracts.
• ETFs: GLD, GDX, GDXJ
• "But we are still going to see gold prices continue to rise and $1,950 level seems like a very short-term goal," says OANDA senior market analyst Edward Moya.
• "With investors still sounding the alarm over inflation, institutional interest in the precious metals complex is likely to continue rising following months of outflows, providing an offsetting force against taper fears for the time being," TD Securities says.
• All in all, "the fundamentals for gold have never been better: record debt and deficit levels, financial markets that are priced for perfection and the emergence of inflation in response," Sprott chief executive Peter Grosskopf tells MarketWatch.
• J.P. Morgan said recently that institutional investors are moving away from bitcoin and back to traditional gold in a dramatic change in fund flows.