Crude Oil Bulls at Threat, Gold Demand Stays Agency, Copper Internet Longs Slashed
- Gold Stays in Demand
- Crude Oil Patrons Mistaken-Footed by De-escalation in US/Iran Tensions
- Copper Internet Longs Slashed
Gold: In per week that began with an escalation of tensions between the US and Iran, the dear metallic remained in demand with buyers boosting their gross longs by 5%, whereas shorts rose 18%, which in flip noticed web longs rise by 3%. Nevertheless, understand that this knowledge doesn’t cowl the interval wherein there was a subsequent de-escalation in tensions in the direction of the latter stage of the week, prompting a pullback in Gold from a excessive of $1611. Elsewhere, silver web longs noticed a discount for the primary time in a month (-2k heaps) as shorts rose 15%.
Oil: A 5th consecutive week of speculative shopping for in Brent crude oil, nevertheless, following the discount in geopolitical tensions, recent longs have been caught wrong-footed as Brent crude oil noticed a notable 10% pullback…