678 replies to this topic

[Smithy]

While gold is in a steep uptrend, both $BPGDM and HUI:Gold ratio are giving sell signals.

A time for caution.

[dougie]

DID ANYONE Ring the Bell at the highest Print in USD HX on Friday?

 

I missed it

[Smithy]

33,000 contracts in August gold standing for delivery. Could explain why the commercials aren't very short, lol.

That is 14% of the net hedge fund position. One seventh seems like a lot to me.

A warm up for a mega squeeze on Dec gold?

[dougie]

Anyone have a sense when they will let the DOGs out?

 

THinking NGD. THM. SAU etc

[Smithy]

I have two targets at spot 2,075 and 2,077 - I don't think gold will get through those at the first try.

[Smithy]

I have two targets at spot 2,075 and 2,077 - I don't think gold will get through those at the first try.

[Smithy]

Friday noon - looks like 5 waves up from this morning's low.

 

[dougie]

what happened to PVG yesterday

[dougie]

my two largest positions : PVG and CKG had nice weeks.

[Smithy]

Review of this week's gold and silver COT (by yours truly)

 

The % of small spec gold traders net long is less than when gold was at $1500 so there is room for growth.  Same for the hedge fund longs. Interestingly the commercials net short position is less than it was in February. Perhaps we might read something into that, i.e. if they thought a peak was imminent you'd expect a larger net short position.

Gold open interest is relatively small, telling us that money is yet to enter gold futures in size. A big OI is a sentiment indicator, we ain't there yet. 

 

In silver, the small traders aren't touching this upmove with a ten foot pole nor are the comms shorting in size.  The numbers indicate the players sitting on their hands.

Edited by Smithy, 08 August 2020 - 11:53 AM.