Gold posts best quarterly gain since June 2020 April 1, 2022
“With both GDX and GDXJ having already created a strong six-month accumulative base, many of the higher-risk/reward junior developer/explorers I have been drawing your attention to over the past several months still have plenty of catching up to do.”
“With U.S. and European stocks posting their weakest quarter since the pandemic crash of 2020, Gold Futures gained 6.6% during a tumultuous Q1. The safe-haven metal traded within a $300 range and closed Q1 above $1950, which is an all-time quarterly closing high. The last time Comex Gold Futures gained more for a quarter was in Q2 2020 when the metal rose 14%.”
“Yet the real story for gold has been that there was already a significant turnaround in the private investment demand for bullion before the Russia-Ukraine war began, particularly from North America and Europe. In fact, there has been a very large increase in the total known holdings of physically-backed gold exchange-traded funds (ETF's) since the end of January, which accelerated after the war in Ukraine began.”
https://www.kitco.com/commentaries/2022-04-01/Gold-posts-its-best-quarterly-gain-since-June-2020.html