Over the past week, we’ve seen large funds increase their bullish bets on gold as the impacts of the COVID-19 Delta variant are assessed by the Fed.
The net length of gold is currently at 75,444 contracts, 28% up from the previous week. This renewed interest from gold bulls has pushed prices back above $1,800 an ounce, helping the market recover losses caused during the flash crash reported last month.
The gold market is now performing significantly better than similar metal markets such as silver and copper where contracts continue to fall in number.
Act fast to buy gold now.