Articles
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The Weekly Gold Digger!
The Gold market may be paused from extending too much higher as the June 13th - 14th FOMC is straight ahead. Once the meeting is out of the way, the Gold market may be able to extend higher and follow-thru in a seasonal tendency to rise towards December. The inflation target of 2% and full employment are within our sights. Inflation may be overshot which may be just the recipe for a Gold uptrend. As of the end of the first quarter, Gold-backed ETF’s were around 2.277.5 tons. North American holdings increased 25.4 tons. The SPDR Gold Shares rose 21.0 tons to 853.4 tons. iShares Gold Trust increased by 4.5 tons to 204.4 tons according to the World Gold Council. US Gold exports as of January thru February increased to 101 metric tons. Hong Kong, China and India received 61.8 tons of the total. The global environment lends itself to uncertainty which is the fuel for the Gold. The rate hike is the one pause that may suppress the Gold from moving substantially.
According to the World Gold Council there are factors to support the Gold demand in 2017!
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