Demand for gold is massively outstripping futures buying, plus reminiscences of 2000 and 2008.
Reminiscences Of 2000 & 2008
July 20 (King World News) – SentimenTrader: We have reliable breadth data going back to 1962. In all that time, there have been 5 other days when the S&P 500 was up 0.75% or more and yet there were more decliners than advancers (issues and volume) on the NYSE. All but one of those dates were in 2000 and 2008…
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The Nasdaq is up more than 2% to a 52-week high. Fewer than 53% of stocks on that index are rising today. This last happened in February 2000. Of the 7 dates in its history, 6 of them were in 1999-2000. (See below).
6 Out Of 7 Times This Happened Was In 1999-2000
Demand For Gold
Ole Hansen, Head of Commodity Strategy at Saxo Bank: Demand for bullion-backed ETF’s in gold and silver continues to far outstrip the demand seen from hedge funds via futures. Data covering week to July 14 (see below).
Demand For Gold ETFs Continues To Far Outstrip
Demand From Hedge Funds via Futures
Demand From Silver ETFs Continues To Far Outstrip
Demand For Hedge Funds via Futures
US Dollar Worries Send Gold Prices Higher
***Also Released: US Dollar Worries Send Gold Prices Higher CLICK HERE.
***To listen to Dr. Stephen Leeb discuss the gold and silver markets finally breaking the chains of manipulation and surging toward the coming mania as well as why the Chinese will be propelling prices higher click here or on the image below.
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