Gold priced in USD has had a great start to 2018, up nearly $100USD per ounce since the early December 2017 trough and capping a great 2017:
Alongside other commodities, the driving force behind the appreciation is the weakening USD, but there’s also other factors involved in gold’s revival, as it approaches its 2017 high at ca. $1347USD per ounce.
Bell Potter have a note out where they consider the “lack of interest” in gold, particularly with no further increase in ETF (exchange traded fund) gold positions, combined with the move of risk to growth instead of yield fares the shiny metal well for 2018:
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