Geopolitical “Powder Keg” Supports Gold’s Resurgence

Wednesday, April 19, 2017
By Paul Martin

by Tyler Durden
ZeroHedge.com
Apr 19, 2017

Gold is trading near the highest in five months, and, as Bloomberg notes, at least one measure suggests the rally is gaining momentum.

Open interest, a tally of outstanding contracts in Comex futures, this week climbed to the highest since January as global tensions ranging from the U.S.-North Korea rift to European elections fuel demand for haven assets.

“The open interest went up because we had people that wanted to protect themselves against all the uncertainty,” said Frank Cholly, a senior market strategist at RJO Futures in Chicago.

“Everything has gotten really tense in geopolitics – it’s a powder keg right now.”

The Rest…HERE

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