Altcoins News
By Pankaj K
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Gold just crashed hard. The metal hit above $5,600 per ounce before getting slammed back down in one of the nastiest single-day drops we've seen in decades, but traders aren't…
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Around 11,000 contracts tied to December $15,000/$20,000 gold call spreads got snapped up recently, according to Walter Bloomberg who's been tracking these positions.
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The comeback happened after U.S. inflation data came in softer than expected, which pushed bond yields lower and got people thinking the Fed might cut rates sooner than planned.
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The speculation frenzy isn't just hitting gold - it's spreading across other metals too. Trading volumes for aluminum, copper, nickel, and tin futures in China have gone…
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Central banks are adding another layer to the story. Steve Hanke, an economist, pointed out that China's been shifting from U.S.
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Not everyone's buying the gold rally though. This follows earlier reporting on Gold Drops Under ,000 Mark as.
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Mike McGlone, a commodity strategist, thinks the metals sector might be overheating similar to past peaks.
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The World Gold Council reported on February 15 that global central banks increased their gold holdings, showing a strategic shift in how they manage reserves.
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Bank of America put out a report on February 14 that highlighted gold's historical role as a hedge during financial instability.
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The London Bullion Market Association saw a big jump in gold trading volumes on February 16, signaling more institutional interest.
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Goldman Sachs revised its gold forecast upward, now projecting a potential rise to $6,500 by year-end.
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The CFTC reported on February 14 that it's closely monitoring speculative activity in gold markets.
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HSBC announced on February 17 that it increased its allocation to gold within its asset management division, citing ongoing global economic uncertainties.
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Nouriel Roubini, the economist who predicted the 2008 crisis, expressed skepticism about gold's rally sustainability in a February 16 interview.
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JPMorgan Chase revealed in regulatory filings that it boosted gold holdings across client portfolios by 15% during January, marking the bank's largest monthly increase since 2020.
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