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Bob Elliott, co-founder / CIO at Unlimited, suggests that reduced gold purchases by central banks are likely contributing to the persistent softness currently observed in the market.
He highlights the importance of central bank buying in maintaining a tight and upwardly pressured gold market, especially when retail investor activity increases.
Elliott has recently commented on order dynamics across major industries. In April, he noted that Boeing saw a rise in new orders tied to expanding backlogs. He also observed that the U.S. housing market cooled before the uptick in long-end yields. These previous observations reflect his focus on how shifts in institutional activity shape sector performance.