Spectrum Markets Sees Bullish Retail Investor Sentiment on Gold Reach Record Level in May

Spectrum Markets, the pan-European trading venue for securitised derivatives, has published its Spectrum European Retail Investor Index (SERIX) sentiment data for European retail investors for May, revealing an all-time-high SERIX sentiment on gold, as retail investors took advantage of a lower gold price amid wider macroeconomic uncertainty.

"After a period of decline in May that saw the gold price drop below 1,800 USD on the 16th, the gold price started what looked like a new rally in the last few days of the month, supported by both the dollar and euro undergoing a weak phase”, explains Michael Hall, Head of Distribution at Spectrum Markets.  

“Considering the macroeconomic backdrop, it’s no surprise to see investors looking to take advantage of a dip in the gold price to make safe haven allocations”, Hall adds.

During May 2022, a record high of 138.7 million securitised derivatives were traded on Spectrum, with 41.5% of trades taking place outside of traditional hours (i.e. between 17:30 and 9:00 CET), the highest monthly figure reported during the last two years.

90.3% of the traded derivatives were on indices, 4% on commodities, 4.6% on currency pairs, 0.8% on equities and 0.3% on cryptocurrencies, with the top three traded underlying markets being S&P 500 (29.2%),  DAX 40 (22.8%) and NASDAQ 100 (15.9%).

Looking at the SERIX data for the top three underlying markets, the DAX 40 remained bearish at 99. Meanwhile, the S&P 500 dropped from 103 to a neutral 100 and NASDAQ 100 saw a similar decrease, from 103 to 101, remaining bullish.