Gold rates looks neutral, says UBS

The analysts at Barclays Capital, an International investment bank with presence in all the major markets around the world stated that CFCT data along with ETF outflows is the main key data to look for signs of shifting sentiment in the gold market

ZURICH (ScrapMonster):  The analysts at Barclays Capital, an International investment bank with presence in all the major markets around the world stated that CFCT data along with ETF outflows is the main key data to look for signs of shifting sentiment in the gold market.

“Holdings held steady last week after physically backed gold ETP outflows slowed two weeks ago.  There were 0.8 tonnes of net inflows w/w. Flows for the month-to-date remain negative at 16.6 tonnes of outflows, but the trend in outflows has slowed to neutral as equity markets have seen some weakness and gold prices have experienced strength,” they says.