There are signs of some speculative froth building up in gold, however, with Comex gold speculative futures positioning hitting the highest level in over a year.
“The rise of long gold futures positions likely reflects market expectations of further price gains for ‘store of value’ assets and as a hedge for long risk asset positions,” ETF Securities noted. “Exchange traded products’ gold holdings climbed to a new record high of 2,182 tons last week according to Bloomberg data.”
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
