This Has Never Happened Before In Gold

Commitment of Traders

Long 168,732

Short 162,207

Net position 6,525 LONG


My view:

This has never happened historically.
The prior major low for gold was in December 2015 when traders were 5,000 contracts net short.  Gold rallied $300/oz in 6 months after the low was hit, and gold stocks nearly tripled.
Two weeks ago, we hit a new record low at 2,000 contracts net short.
Today we are 6,500 net long!

Gold shorts are about to be destroyed.
Gold stocks will undergo a fierce rally.
All that is required is a trigger event.

We are now anticipating an upward resolution to the gold market within the next two weeks.
In our view, gold stocks are now a screaming buy.

 

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