Looking Ahead to April

by Craig Hemke

The month of March has been a wild one for the COMEX digital metals, and despite the war in Ukraine, this is not unusual. But soon we’ll turn our attention to April, and we’ll wait to see if a renewed rally toward $2000 gold is forthcoming.

First of all, yes, the war in Ukraine played with emotions and volatility all through the month of March. COMEX gold nearly tapped its all-time highs from August 2020 before falling backward, and now as the month finally draws to a close, we wait to see where price finishes.

Why is this important? Because the month of March and the end of the first quarter are always important for the precious metals. Over the past few years, the April COMEX gold contract has become quite volatile and has also seen a surge in “deliveries” once the contract goes off the board in late March.

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