Gold cross all time high new all time will touch 2300 (caption)
Gold set a record peak of $2,194.98 for the fourth straight day on Friday after data signaled a cooling U.S. labor market.
“With large speculators having increased net-long exposure at their fastest weekly pace in 3.4 years last Tuesday, gold is clearly in demand and not a market to short for any length of time whilst traders expect Fed cuts,” City Index
COMEX gold speculators raised their net long positions by 63,017 contracts to 131,061 in the week ended March 5, data showed on Friday.
Prices will simply consolidate at lofty levels heading into consumer price inflation, or CPI, data for February, due on Tuesday, as that is likely the single biggest driver of gold prices this week,
“With large speculators having increased net-long exposure at their fastest weekly pace in 3.4 years last Tuesday, gold is clearly in demand and not a market to short for any length of time whilst traders expect Fed cuts,” City Index
COMEX gold speculators raised their net long positions by 63,017 contracts to 131,061 in the week ended March 5, data showed on Friday.
Prices will simply consolidate at lofty levels heading into consumer price inflation, or CPI, data for February, due on Tuesday, as that is likely the single biggest driver of gold prices this week,
Comment:
2200 done with CPI next target 2300