Along with the contango/backwardation analysis… which is close to signalling extreme “cheapness” for gold.

And real yields taking a dip last Thursday and Friday…  the COT could of already bounced on those trend lines…

Has gold bottomed? Possible… but I’m still expecting more sell-offs after the USD cools off a little, before resuming uptrend.

Remember gold and silver are good at spotting turnaround points in peak volatility… and if we are to get more volatility… GSR and the vix should pop back up…

Your choice! Whipsaw or key turn around moment.

Edit: adding real yield analysis…  2008 vs 2020… smells like a trap to me… if you think today’s situation is equal or worst than 2008.