Finweek English Edition - - INVESTMENT -

Ole Hansen, Head of Com­mod­ity Strat­egy at Saxo Bank, notes that for three con­sec­u­tive weeks, the to­tal known hold­ing of gold in ex­change-traded prod­ucts (ETPs) has risen. He notes: “Con­sid­er­ing the price re­cov­ery wit­nessed dur­ing this time it points to­wards some hes­i­tancy amongst in­vestors about be­com­ing in­volved at this stage. This sen­ti­ment is also mir­rored in the fu­tures mar­ket where the main source of buy­ing so far is from those cov­er­ing short po­si­tions.”

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