Gold volume flying as Investors weigh sharemarket risk
25 October, 2023
As at 9am, AEST.
Spot pricing for Gold $AU3104
Spot pricing for Silver $AU36.19
Spot pricing for Platinum $AU1412
Today we’re including a brief look at the sheer volume of Gold that is being traded within the last 2 years, and the peaks that have occurred during this period.
These charts don’t show physical gold volume, but SPDR GOLD Shares - but do give an insightful and interesting perspective on volume of Gold at any one time.
The first chart we’ve included shows 2023, its first rising peak through May - a pronounced trough and we’re looking towards another peak in November/December. The second chart shows a massive peak that occurred March-April 2022, coinciding with the devastating news from Ukraine during this period (Ukraine/Russia conflict began February 24, 2022).
Volume during the beginning of the Ukraine/Russia conflict totalled an immense 17.49M shares of SPDR Gold. Moving now into the second week of conflict between Israel and Hamas, we see Gold poised ready to explode in SPDR Gold volume (in comparison to Ukraine/Russia).
While past performance is never a guaranteed indicator of future performance, Gold positioning as the Israel/Hamas conflict continues to unfold is sure to consolidate and strengthen further.
And quickly jumping back to US news, with annualised 5% GDP growth being mentioned in news outlets today. Amongst higher than normal interest rates, depressed/pressured economic conditions and a hawkish stance by the FED - the US economy has apparently soared higher. Full results will be released this Thursday (for us to comment on Friday). As with any economic system, if something moves too quickly upwards, keep a very close eye on movement in the opposite direction. Historically, the US has seen quick economic growth followed by sharp, fast recessive periods.
Enjoy today’s charts.
GLD 30-Day Average Daily Volume: 8.632M for Oct. 23, 2023
Gold daily, with 200MDA
Silver daily, with 200MDA
US500, with 200MDA
ASX200, with 200MDA
