Loading ...Gold’s COT most bearish
AND keeps getting bearish!!!!!
Gold COT report has been bearish for more than a month.
Current stat:
Spec net long +331,000 contracts
Commercials net shorts: +334,000
Comm net shorts as % of open interest: 41%.
Below is Jack Chen data from 2001 during gold bull market. Net long to day is much higher than what has been.
Some thing is going on: I do not know???
Easy to understand
Specs buy because they are bullish…price rises… specs buy more…open interest rises…Some Commercials (Miners) sell forward (hedge) …Specs buy Commercials sell ….that’s what makes the world go round
PS LOOK at that chart /..The most important take away is ..when specs buy and buy and add and add…the price always goes UP with their buying…this is as one would expect. Then they start selling their positions and price drops. But at what price do they start to liquidate ? TBD