Gold bets jump 30% among speculators, as they boost holdings for 5th straight week
Net long positions rise to highest since October. Gold remained a hot commodity last week, with speculative investors such as hedge funds and money managers increasing their holdings in the haven metal for a fifth straight week.
According to the weekly Commitments of Traders report from the Commodity Futures Trading Commission, net long positions in gold GCZ7, +0.05% soared 30% for the week ended Tuesday to 179,537 contracts from 138,566 the week before. That marks the highest level of net longs among speculators since October.
Gold little changed as investors focus on geopolitics, cbank meetings
Gold prices were little changed on Monday as investors sought further direction after a week of geopolitical uncertainty in the United States and Europe and ahead of a meeting of central bankers later this week.
Spot gold edged 0.1 per cent higher at $1,286.01 an ounce by 0640 GMT, while U.S. gold futures for December delivery were flat at $1,291.70 per ounce. The metal surged to its highest since November on Friday when political and security concerns in the United States and Spain jangled investors’ nerves and stoked demand.
Technology behind bitcoin could replace physical gold trading
The bitcoin revolution has caught the attention of traditional banks and hedge funds. Financial companies are working on a platform that will use blockchain technology to verify and record transactions in gold trading. Exchange owner CME Group, TradeWind Markets, and financial technology firm Paxos are working to make the $27 billion-a-day gold market digital.
The companies say it will add more transparency and security to the gold market. “Digital gold would take market share away from other gold instruments: futures, physical gold bullion, gold ETFs,” Ebele Kemery, head of energy investing at JPMorgan Asset Management told Bloomberg.
Day Trade Adjustments for Volatility
How do you determine share size per trade? Is it documented in a written trading plan? Day trade and risk go together, it’s tough to say one without the other. The problem for most new day traders is they never learn to adjust risk with volatility. A $500 risk is not the same in every stock or from day-to-day.
Stocks have different volatility, known as average true range. This is the amount price action fluctuates from high to low (on average). New traders should assess risk tolerance, capital and decision making ability and coordinate these resources with volatility.
The truth is, new day traders can’t handle faster, wider movements. They have not learned to make good decisions yet. They don’t have enough experience.
On the Tape Today | 8-21-17
KORS-Michael Kors Holdings offering a deep decline after a monster bullish gap breakout and momentum. Game planning for a lower open and a bid to buy @ $41.30 using a limit order. Initial target on the new swing trade comes in at $45.75. Stop loss on a close below $40.50.
Stock Market Sector Performance
Stocks to Trade | Monday Edition 8-21-17
Bullish Momentum: TAL
Bearish Momentum: fl, lb, car, fast, jd
Bullish Order Flow: WB, TAL, KORS, TTWO, VNTV, BA, BBY, BABA, VFC, AABA, CCI, TSN, AAPL, V, FSLR, MCD, AA, MA, UPS
Bearish Order Flow: dks, hp, myl, mnk, stx, viab, lb, pxd, apa, slca, cah, hal, mo, akam, bti, aal, hes, luv, eog, ual, lvlt, nue, trgp, slb, hog, apc, ibm
Double Normal Volume: FL, NKE, ROST, DE, DKS
Inside Days: nflx, luv, tgt, cci, dg, lrcx, hun, fnsr
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