The activities of Russian troops near the Ukrainian border have made investors increasingly worried about the escalation of the conflict. However, analysts said that the general view in the gold market is that although the situation in Ukraine may deteriorate, Europe and the United States may not intervene in the conflict except for a new round of sanctions against Russia.
The net long position of gold increased for the first time in five weeks, which was good for the price of gold. According to the report released by the US Commodity Futures Trading Commission (CFTC) over the weekend, as of April 22nd, 20 14, the net long position of gold futures held by speculators increased by 254 1 lot to 8 1 ,833 lots, the first increase in five weeks. Due to the recent escalation of the situation in Ukraine, risk aversion has warmed up.
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Tian Manwen, a Jing Rui futures researcher, said that on the one hand, the current situation is turbulent, because I don't know what the Russian side will do next. However, the upside of gold is limited, because the conflict will basically not spread outside Ukraine.