Tuesday, October 6, 2015

Gold Market Update : Epic Research Singapore

Gold prices may be ready to make a significant move higher as holdings of the precious metal in the SPDR Gold Trust exchange-traded fund climb to their highest level in more than two months.

Holdings in the SPDR Gold Trust GLD, -0.20% the world’s largest physically-backed ETF, stood at 689.2 metric tons, or about 22.16 million ounces on Monday, that is unchanged from the level on Oct. 1, but they’re up roughly 1% from the 682.59 metric tons seen a month ago and stand at the highest level since July 21.

Gold for December delivery GCZ5, -0.14%  settled at $1,137.60 an ounce on Comex Monday, up $1 or 0.1%. It rallied 2.1% on Friday as a disappointing U.S. jobs report hinted at the possibility of further delays of an interest-rate hike by the Federal Reserve.

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