Economist and Hedge Fund Manager Shayne Heffernan of www.livetradingnews.com takes a look at Gold Trading.

Spot gold up 0.6 % to $1,723.70 and was trading at $1,722.30 in Asia , gold fell 1 % last week, Gold December up 0.4 % to $1,722.10 , silver up 1.1 % to $32.6688 .Platinum up 0.5% to $1,567.25 after falling 1.7 % in the last two days. Palladium gained 0.7 % to $632 .

Holdings of gold-backed exchange-traded funds rose to a record high of 75.421 million ounces on November 16, suggesting unabated investment interest.

Speculators raised their net long bets in US gold in the week ended November 13 from the lowest level in about three months hit a week earlier, the US Commodity Futures Trading Commission said.

Net long positions in US silver edged up to 27,802 contracts from 27,350 contracts a week earlier, their lowest since late August.

Statistics from the World Gold Council for the three months to September 30 show that gold demand was up 10 per cent on the June quarter to 1084.5 tonnes, but down 11 per cent on the previous corresponding period.

Even though central banks remained net buyers and EFT inflows were strong, demand in the category of bars and coins fell 16 per cent on the previous September quarter.

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Maco Factors

USD Index, fell 0.2 %.
Holdings in Gold ETPs rose to 2,603.692 MT on Nov. 16,
Gold up 10 % YTD on Central Bank Purchases
BoJ meeting today on monetary easing.
U.S. Mint has sold 56,000 ounces of gold coins in November, up 161 % from a year earlier.
Funds increased their net-long positions in futures adding 7.7 % to 140,162 contracts in the week


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