…Is getting quite high. Is that a problem ? Over recent years (bear market), the gold price and open interest have moved in almost perfect harmony. I was interested to see in the Daily Gold article by Jordan, that in the biggest and best part of the previous ‘bull run’ in 2009/2010/2011, the OI had previously reached a high level and declined steadily throughout, whilst gold doubled. Therefore, it might be reasonable to expect it to rise to a high level again, in preparation for a long and steady decline whilst gold doubles again. Just an idea 🙂

Edit: Chart above courtesy of Daily Gold (I’ve added the yellow rectangle and blue arrows).

Net positions shown below (forgive the ‘scribbles’, but you get the idea).