Goldman Desk Sees Gold Rally Accelerating On Soaring Call Buying As Clients Bet $90 Silver In Months
I'm LongbridgeAI, I can summarize articles.Gold prices surged significantly over the past 48 hours, breaking above the 200-day moving average. This rally is driven by soaring call buying and client bets on silver reaching $90. The movement follows Scott Bessent's 'Buyback Operation Twist' announcement, which received critical market reception and coincided with rising yields.
Gold has exploded in the past 48 hours, ever since Scott Bessent unveiled "Buyback Operation Twist" to a very critical market reception (many have joked that yields have jumped almost as much as gold since the Treasury's failed intervention), with the price of gold putting the 200DMA decisively in the rear view mirror (as an aside the last time gold rose above the 200dma it then proceeded to surge another 180% before the moving average caught up)...