We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • EUR/USD IG Client Sentiment: Our data shows traders are now net-short EUR/USD for the first time since Nov 07, 2019 when EUR/USD traded near 1.11. A contrarian view of crowd sentiment points to EUR/USD strength. https://www.dailyfx.com/sentiment https://t.co/TfTaPofXf1
  • #Gold rises as US equities move modestly lower through morning trading $XAUUSD https://t.co/RWng3oIqtW
  • Forex Update: As of 15:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.35% 🇦🇺AUD: 0.22% 🇯🇵JPY: 0.16% 🇨🇭CHF: -0.01% 🇬🇧GBP: -0.10% 🇨🇦CAD: -0.12% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/eSBVAvI7mB
  • Indices Update: As of 15:00, these are your best and worst performers based on the London trading schedule: Germany 30: 0.31% US 500: -0.06% France 40: -0.10% Wall Street: -0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/YY36jf96CD
  • For #gold to make another attempt at $1,500/oz. and above, the spot price will need to take out two levels of resistance. Get your $XAUUSD technical analysis from @nickcawley1 here: https://t.co/o9TKzPUrwK $GLD https://t.co/myzVurNtBB
  • Fed's Williams: - Operating framework is currently very efficient and effective - No need for a reconsideration on operating framework for Ample-reserves $SPX $DXY
  • The Atlanta Fed GDPNow model forecast for Q4 rises to 0.42%, previously at 0.31% $DXY $SPX
  • UK Election Poll (Kantar) - Conservatives 45% (+8) - Labour 27% (unch) - Lib Dems 16% (-1) - Brexit Party 2% (-7)
  • En español: La tendencia del oro carece de claridad por la falta de avances en la guerra arancelaria y las dudas sobre el posible desenlace del conflicto comercial entre Estados Unidos y China #trading #XAUUSD $XAUUSD $gold https://t.co/WuxBJAciue https://t.co/Qq8yyc8Nbh
  • Chair of House Committee on Ways and Means Neal: - USMCA could be completed by Christmas if backed by Trump $DXY $CAD $MXN
Gold Price Forecast: Rally to Receive Boost from Massive ETF Holdings

Gold Price Forecast: Rally to Receive Boost from Massive ETF Holdings

2019-08-22 20:00:00
Peter Hanks, Junior Analyst
Share:

Gold & Silver Price Forecast:

  • Total known gold ETF holdings have surged to a 6-year high of nearly 80 million troy ounces
  • Not to be outdone by its more-glamorous peer, total ETF holdings of silver have spiked to the highest on record
  • Interested in an ETF-based view on various global markets? Sign up for our Weekly Equity Webinar.

Gold & Silver Price Forecast: Rallies to Receive Boost from Massive ETF Ownership

Total holdings of gold and silver have exploded in 2019 as investors grasp for safety amid slowing global growth, trade war uncertainty and a multitude of recessionary warning signs. The seemingly incessant demand has seen the total known ETF holdings of gold surge to the highest since 2013 and easily surpass the levels seen during the immediate years following the Great Financial Crisis. Like it often does with price, silver holdings have followed suit and investors now own more silver through exchange traded funds than ever before.

Gold & Silver Holdings Swell

gold price today, silver price today chart

The substantial increase in ownership has been reflected in both gold and silver prices which have climbed roughly 17% and 10% respectively in the year-to-date. Simultaneously, gold ETF ownership has increased by 6.3 million troy ounces or roughly 9%. Silver ETF holdings have ballooned by 105 million troy ounces – a whopping 20% increase in total ownership. Using the 2019 average gold spot price of $1,340, the added holdings equate to roughly $8.4 billion while the increase in silver ownership – using a spot price of $15.5 – is over $1.6 billion.

Gold Rush

gold rate today chart, etf holdings

Data source: Bloomberg

With the recent inversion of the 2-year, 10-year US yield curve, fears of an impending recession are mounting and the future is arguably more uncertain than months prior and the nearly parabolic increase in holdings over the last three months suggests similar. Thus, it seems likely the demand for both gold and silver will continue for the foreseeable future. Consequently, the two precious metals may continue to receive a boost from the increased ETF ownership which offers a glimpse at the global demand for the commodities.

Silver Scrapes

silver price chart today

Data source: Bloomberg

That said, spot prices may still occasionally fall prey to passing Fed commentary and trade war updates, but the case for trend continuation higher appears robust. For more ETF data on gold, silver and various equities, follow @PeterHanksFX on Twitter.

--Written by Peter Hanks, Junior Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

Read more:Canadian Dollar Price Forecast: USD/CAD Strength May Fade

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.