Gold ETF Fund Flows Trend Lower: Bender

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Oct. 08 (Bloomberg) -- Bloomberg's Greg Bender puts futures in focus with an outlook for gold and why traders are not flocking to the metal in "On The Markets." He speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)

Dollar helping commodities and gold not benefiting from that?

It is also about traders not watching the debt ceiling.

They are more focused on a week chart and the fact that a global economic slowdown.

They are focused on technicals.

I know that you traded gold when the price went straight up.

What is the difference now in the price action?

Gold and the dollar were inversely correlated.

Over the last month or two the below, we have seen both traded lower.

Now that the dollar is stabilizing at the 79 level, which was supported in 2012, traders are saying to themselves, it going could not rally when it was going lower, what happens now?

We have looked at gold in u.s. dollar terms, but you can also buy it in terms of other currencies.

What kind of interest do you see in that?

The charts do look marginally better compared to the euro and the yen, for example.

I would not say that you would see more of a bullish pattern.

What kind of funds are you seeing flow into gold exchange traded funds?

We are seeing the trend continue to go straight down, which shows us a lack of interest more than anything else.

That also is playing out in the options market.

The gold fix is trading sideways between 26 and 21, which means options traders looking 30 days out to not see any volatility on the horizon.

So if the volume is not there, where are traders turning their attention to?

It is all back to the dollar.

Trading at that support level of 79. if we break through there, we could get a bid in gold, but barring that, we are looking at sideways, down.

79 as the inflection point.

Thank you for joining us for today's futures in focus.

We are on the markets again in 30 minutes.

In the meantime, "market makers" starts right now.

? real estate royalty.

He owned the tallest occupied residential tower in manhattan,

This text has been automatically generated. It may not be 100% accurate.


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