Investors continue to sell the assets of the funds tied to the dynamics of gold - based on AMarkets.
Investors are selling "gold derivatives' fastest pace in the last 3 months on the background of the price fluctuating around the 5-year lows on expectations the Fed will raise rates next month. "Gold Products" ETF funds in the hands of investors decreased by the equivalent of 26.9 metric tons last week - the most since July. Now metal is trading roughly 1.5% higher than its July anti-record. In 2015, the year of the moment, gold dipped about 7.7% (as of Wednesday).
There is a 68% chance the Fed will raise rates in December - compared with 56% probability of the consensus forecast, which was published before the release of a positive report on the labor market.
While gold "downtrend", despite the major point of purchase in the market and individual price rises - it's hard to argue. Together with gold and other precious metals dauntrendre - Silver (-0.2%), platinum (-0.9%), palladium (-3.6%) - the data on 10 October. Investors are consistently sold through metals ETF not less than 6 consecutive days. Volumes longs - at a minimum since August 19.