StockFetcher Forums · General Discussion · Jeff Clark's Market Minute Another Gold Caution Sign Published July 26, 2019 - 7:30 AM<< >>Post Follow-up
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7/28/2019 12:48:32 AM

https://www.jeffclarktrader.com/market-minute/another-gold-caution-sign/

https://www.cftc.gov/MarketReports/CommitmentsofTraders/index.htm

"When gold is at a relatively low level and commercial traders expect it to be higher in the near future, the COT short interest often drops to less than 50,000 contracts. That’s what happened last September, when gold dipped below $1,200 per ounce, and the commercial traders actually held a net-long position in gold futures contracts."

"Last Friday’s COT report showed that commercial traders were net short 277,000 contracts. That’s the second highest short position of the past 20 years – second to the 316,000 net short position in August 2016, just before gold fell $100 per ounce over the next two months.

Based on history, this is a short-term bearish development."

StockFetcher Forums · General Discussion · Jeff Clark's Market Minute Another Gold Caution Sign Published July 26, 2019 - 7:30 AM<< >>Post Follow-up

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