Gold Hits New Highs with Strong COMEX Positioning and ETF Inflows In May, gold posted its third consecutive monthly gain, rising by 2% to $2,348/oz and reaching a record high of $2,427/oz before pulling back due to profit-taking. Despite moderate gains, market activity remained supportive with high net long positions on COMEX and significant inflows into gold ETFs. While no single variable dominated, factors like momentum and a weaker US dollar contributed marginally, with strong over-the-counter buying, including central bank purchases, playing a significant role. Looking ahead, a potential peak in the US dollar could further benefit gold. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts US Job Market Cooler Than Thought: 818,000 Jobs Reduced in Revision READ MORE Revisiting the 2024 Gold Price Predictions READ MORE UAE Aims for Gold Standard in Online Trading Transparency READ MORE Powell Warns ‘The US Is on an Unsustainable Fiscal Path’ READ MORE Surprise CPI Drop Propels Gold Prices Towards All-Time Highs READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment