Loading ...Still ongoing issues at Comex
I thought things were back to normal… but the slightest pressure on spot.. and the futures contract can’t help but jack up the premium.
Edit. Alasdair always has insightful take on cot.
My take on gold this morning: yesterday's attempt to shake out the bulls failed. If the COT position for bbs did not improve then the Comex gold crisis is set to intensify. I shall be looking at Large 4 Traders net shorts. Will they increase from 176,658 contracts?
— Alasdair Macleod (@MacleodFinance) April 22, 2020
Patrick: do not relinquish your math to others.
“So Alasdair’s new math means that you smash the price of gold lower by buying up to $40 billion worth of gold. That’s certainly news to me.” Rest is here:
http://www.321gold.com/editorials/moriarty/moriarty032120.html
Interesting read. Maybe they should talk it out? What caught my attention in that Alasdair tweet was how it fit my narrative… COT positioning not winding down that much.. AND spot price bid still making gold futures premiums explode higher. Again, maybe both aren’t related. But if I’m looking in a mirror these days… I would probably see I’m biased in an upwards direction for gold!