Gold Markets Stuck in Recovery Mode
The gold and silver markets are still recovering from the massive price moves seen in 2025 and January of this year. While open interest did increase after hitting a low in June, it remains below historical averages. This suggests that investors may be hesitant to take on new positions, even as prices recover.
On the other hand, the micro level shows miners leading metals, which could be a bullish sign. However, the long-term chart indicates that investors have lost interest in miners, with trade volume dropping and then recovering only slightly.
The lack of interest from market speculators is evident in the gold market, where trade volume dropped but has since recovered some. This lack of enthusiasm may be a concern for those looking to invest in the sector.