Not a lot of change, but steady bullish by large specs (lowered shorts). Seasonality says that the next 60 days will see the start of a steady build towards a fall high in gold prices. I will attempt to trade up with the season. It is election year so could be good move. Notice the open interest decline. Hestitation due to....??
Spain and Italy banks will fail sometime in the next year They are joinded to their respective states so it could get nasty. But they have not reached for gold yet, probably discovered you can not eat it. Gold will become a player in the EU, just can not time it yet.
Still holding PM for the day the US Treasuries become just another piece of paper.
Islander.
Edited by Islander, 18 June 2012 - 11:58 AM.
