Daily Gold Market Report

Gold pushes quietly higher ahead of key reports due by the end of the week
Saxo Bank reports heavy capital flows into gold ETFs

(USAGOLD – 3/30/2023) – Gold pushed marginally higher this morning in quiet, uneventful trading ahead of a couple key reports due before the week is out – jobless claims later today and the PCE price index on Friday. It is up $4 at $1971. Silver is up 41¢ at $23.82. FX Empire’s Phil Carr says the recent pull-back in gold has to do with “end-of-quarter profit taking as traders square up their positions – ready to capitalize on precious metals’ next big move.” Saxo Bank reports seeing heavy capital flows into gold ETFs with almost $2 billion in net purchases over the past month, reversing months of selling.