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ABC Bullion

May Report: Precious Metal Technical Analysis

15 June 2022

Gold faced pressure from rapidly rising yields and a concurrent run higher in the

US Dollar, both of which have softened slightly going into June.

Concerns over property and wider economic weakness in China owing to lockdowns. In the US, the Fed is optimistic that the American economy is strong enough to absorb a significant round of monetary tightening.

The secular decline in Managed Money gold positioning is notable, as is the very notable decline in silver positioning (now net negative in the Managed Money sector)  Silver itself is running very close to Copper price action, and gold positioning reflects the run-up in yields and Dollar strength.

                                                                                                                    ACCESS REPORT

Warm regards,