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 Russia Leads BRICS in Doubling Down on Gold to Dethrone the Dollar READ MORE S&P 500 Breaks 5,000 Mark Amid Anticipation for Key Inflation Data READ MORE LBMA and WGC Push for Gold's Upgrade to HQLA Status Under Basel III READ MORE Egypt's Bold Move: $1 Billion in Treasury Bills Launched READ MORE Oil Dips as Tensions Rise: Market Braces for Iran's Next Move Against Israel READ MORE Add a Comment Cancel replyYour email address will not be published.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