Financial investors turn their backs on gold and silver – Commerzbank Gold XAUUSD Silver Banks XAGUSD
“The same factors as in recent weeks are weighing on gold price: the“ETF investors have been withdrawing from gold over the past two weeks. The gold ETFs tracked by Bloomberg registered 12 tons of outflows again last week. The CFTC’s statistics show that speculative financial investors are further turning their backs on gold, too.
“Speculative financial investors have also retreated noticeably from silver: in the last three weeks, they have even slashed their net long positions by 64%, around 4,180 tons of silver being sold via the futures market. The silver price has dropped by nearly $3 or 11% over this period – i.e. significantly more steeply than theInformation on these pages contains forward-looking statements that involve risks and uncertainties.
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