Spot gold is moving higher along with the broad-based USD weakness we are seeing. Gold is also getting a boost from overnight news that IMF data shows Russia raised its gold reserve for a 5th straight month in March (before the big sell-off).
There’s also been a big jump in demand for physical gold following the crash:
The U.S. Mint said it has suspended sales of its one-tenth ounce American Eagle gold bullion coins as surging demand after bullion’s plunge to two-year lows depleted the government’s inventory.
Source: Bloomberg
