COMEX gold inventory shrinks as speculative net longs falls. Over the past two months COMEX gold inventory has fallen 15%. This in part reflects a reduced scale of speculative activity which has limited the need for counterparties to post collateral that make up the gold inventory.
Key events to watch this week. Policymaker deliberations will dominate market attention this week, with the G20 Finance Ministers and Central Bank Governors’ Meeting ahead of the US Congressional deadline to raise the debt limit on Thursday. Although the US government’s ability to borrow new money was extended until mid-May, with the inability of US politicians to avoid the sequester fresh in investors’ minds discussions will be closely watched. On the economic front, US housing statistics and industrial production will be monitored closely for any sign of a slowdown in growth and the possibility of continued stimulus from the Fed.
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
