Brendon Conway argues on the Barron’s Blog that gold is entering a seasonally strong period of prices. According to him, Credit Suisse’s commodity strategists note that the usual June lull came early this year. With the flood of money exiting ETFs in 2013 having abated, “seasonal pattern driven by Eastern buyers are regaining importance,” the group writes.
Bloomberg also reports that Gold Futures are rise to 2 months high on Economic Reports. “This weaker home prices in the U.S. and this negative news out of Europe are giving gold a bump,” Fain Shaffer, the president of Infinity Trading Corp. in Indianapolis, said in a telephone interview. “We’re also still moving higher from Yellen’s statements last week.”