CFTCWhat I find interesting is that the Gold - CFTC commitment of traders (combined futures and options) for the first time in a very long time, at least over a year from when I started following it, the combined Longs are actually higher than the Shorts. Speculators and Commercial combined.
569,829 long and 566,615 short
not a significant difference yet but this is a first in a very long time.
Does this mean we are at the cusp of a turn around? I don't know but it is interesting.
Remember when everyone is screaming sell that's usually a good time to be buying especially quality products.
We might see one more big drop before it turns though but I remember the last run everyone was saying POG was going down and all it did was steadily go up.
I waited for that drop from around $800 to $1,200 but didn't happen and it went to $1,900
Will it do it again....?
It seems the ones in the know do the opposite of what they tell everyone else to do.
A commodity like Gold that IS manupulated it's hard to tell.
Disclosure - With my buying and selling I hold a few thousand shares and averaging a cost of $3.29 for my shares. I will not be selling here... these are buying prices with caution...selling would be high teens and maybe even 20's depending on where POG goes.
My 2 cents.
GLAH&B