Gold bullion breaks new highs leaving TIPS, gold miners and silver behind
Stable value
Posted by WisdomTree on 15.03.2024
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Gold bullion reached a new high of US$2195/oz on 8 March 20241. The recent rally seems to have been driven by a sharp rise in speculative long positioning in gold futures markets. Data released on Friday 8 March 2024 (relating to Tuesday 5 March 2024) showed that speculative longs rose by 62,528 contracts (Figure 1), the highest weekly gain since February 2020. Meanwhile shorts remained broadly flat.