Gold futures hit >$2700

[pmbug]

Gold funds posted ~$3 billion of inflows last week, the second largest on record.

This is more than TRIPLE the average amount seen over the last few weeks.

Massive inflows fueled gold prices which have rallied 33% year-to-date and are on track for their best year since 1979.

As a result, gold is currently trading with new record high market cap of $18.4 trillion.

All while central bank gold reserves as a % of the total currency reserves reached 12.1%, the most in over 3 decades.

Everyone is piling into gold.

https://x.com/KobeissiLetter/status/1850978874521170001

[68Camaro]

Yep, crossed 2800 a couple of times, and dollar still over 104. Still looking for a close over 2800 in spot. Don't think it'll be long. Come on silver!

[68Camaro]

SInce this thread is (to some extent) about Gold Futures, here is where the current market thinks gold is headed:

Gold (NYM $/ozt) Last Chg Open High Low Date/Time
Front Month $2,735.20 -3.40 $2,745.50 $2,756.00 $2,734.20 Nov 1, 2024 12:55 p.m.
Gold Nov 2024 $2,735.20 -3.40 $2,745.50 $2,756.00 $2,734.20 Nov 1, 2024 12:55 p.m.
Gold Dec 2024 $2,743.60 -5.60 $2,743.50 $2,757.50 $2,739.40 Nov 4, 2024 12:13 p.m.
Gold Jan 2025 $2,756.60 -5.00 $2,754.30 $2,767.10 $2,754.30 Nov 4, 2024 11:49 a.m.
Gold Feb 2025 $2,766.80 -7.10 $2,768.40 $2,782.00 $2,764.90 Nov 4, 2024 12:13 p.m.
Gold Apr 2025 $2,787.20 -7.30 $2,784.60 $2,802.40 $2,784.60 Nov 4, 2024 12:13 p.m.
Gold Jun 2025 $2,809.20 -6.50 $2,808.60 $2,822.00 $2,807.40 Nov 4, 2024 12:11 p.m.
Gold Aug 2025 $2,830.40 -3.90 $2,828.10 $2,837.80 $2,827.90 Nov 4, 2024 11:46 a.m.
Gold Oct 2025 $2,850.50 -3.20 $2,850.50 $2,850.50 $2,850.50 Nov 4, 2024 3:05 a.m.
Gold Dec 2025 $2,871.00 -2.00 $2,867.30 $2,880.20 $2,867.30 Nov 4, 2024 11:43 a.m.