Listen sports fans, I just call ’em as I see ’em. The Commitments of Traders for gold is as extended as it has been lately and open interest is significant. Speculators are all-in here and while we note that bull market rules are different than bear market rules, extended is extended. Gold is vulnerable to pullback by this measure, especially since the gold price is in the target zone we laid out months ago.
Silver is doing what it did last time, leading gold as it has already begun to change its trend back toward what would be a future buying opportunity, assuming the silver price pulls back that is.
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