Good Reads
Gold Heads for First Weekly Gain Since Middle East War Began
Gold staged a recovery, putting it on track for its first weekly gain since the US-Israeli war in Iran began, as bargain-buying accelerated after recent price declines. Since the war began on Feb. 28, gold has fallen nearly 15%, moving largely in tandem with stocks and in an inverse relationship with oil. Bullion is “trading as a risk asset,” TD securities analysts wrote in a note Friday. Read on »
Gold price slump tied to crunch, not fundamentals: Sprott
Gold’s March sell-off is being driven by a global liquidity squeeze and disrupted reserve flows, not weakening fundamentals, according to Sprott strategist Paul Wong. Read on »
Turkey’s $8 Billion Gold Drawdown on Iran War Hits Bullion
Turkey’s central bank sold and swapped about 60 tons of gold, worth more than $8 billion, in two weeks after the start of the war in Iran, adding to downward pressure on bullion prices. Read on »
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