Charge cuts are the primary catalyst that each one the gold bulls are ready for, notably if it comes with US greenback softness. Nonetheless Scotia outlines two shorter-term elements that would enhance gold’s momentum.
1) COMEX speculative place of 222k contracts is at common ranges (since 2018) and nicely
under its 2020 peak
2) ETFs are seeing outflows, suggesting retail nonetheless hasn’t piled in
