Although gold is stuck around $1,850 an ounce, retail investors are not giving up. Spectrum Markets bullish sentiment surprisingly reached an all-time high last month.
The report indicated that as retail investors took advantage of low gold prices amid wider macroeconomic uncertainty, sentiment increased positively to 116. Demand surged because uncertainty continues to dominate financial markets, and persistently high inflation continues to threaten the global economy. Another factor is the geopolitical tensions in Ukraine.
In terms of other assets, Spectrum Markets noted that investor sentiment for the DAX 40 remained bearish at 99. Sentiment for the S&P 500 declined from 103 to a neutral 100, while the NASDAQ 100 showed a similar decline, from 103 to 101, remaining bullish . All this is in line with other reports and unofficial data.
Going back to gold, the US Mint sold 147,000 ounces in May, which is the best sales performance in the last 10 years. Analysts say the strong demand for physical gold is indicative of growing anxiety among retail investors looking to protect their wealth.
