Standard Bank Weekly Gold Price Analysis for the Week Ended May 31st

Standard Bank

The South African Standard Bank issued its report for the performance of gold prices in the commodity market in the past week in May 31st. The report analyzed COMEX gold, gold futures and gold ETFs price movements during the week.

The previous testimony of Ben Bernanke, the Federal Reserve Chairman, to the congress economic committee decreased the net speculative length once again.

The net speculative length fell by 21.6 tonnes this week. The additions to the speculative longs were outmatched by the massive addition of shorts.

ETFs outflows streak continue for the 16th week in row but with lesser pace.

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