Concerns over the viability of Portugal’s largest banks, Banco Banco Espirito Santo, Popolare and Unicredit have sent market participants once again to the safety of gold. As result gold future hit 3 months highs in today’s session.
Shares Outstanding of the gold trust sink to fresh Lows.
Yesterday, we took a look at how gold was trading after the World Gold Council’s Gold Demand Trend report was released ahead of the Federal Reserve minutes release at 2pm today.
…gold bears are scared to go home short for the weekend. They are especially nervous when the Dollar can’t rally despite better macro and global tensions.