…and ready to strike as of Tuesday the 24th.
They amassed heavy open interest and pressed the net shorts into the week’s high, which was not so coincidentally the day before the “hit” that some will sell as conspiracy. Open interest, net spec longs and net commercial shorts all hit their highs for the move before the pullback.
It was just time, folks. All this trade war and now Fed Repo-gate and this impeachment noise has sent them into gold and Treasury bonds. We need to clear this stuff out of the gold investor base (the large specs represented by the blue bars are not heroes or ‘friends of gold’; they are momos and it’s time for a clean out).
Silver by the way, looks a little better. But both are [likely… we won’t have the data until Tuesday] now on new trends to a future low risk alignment.
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