Latest weekly gold COT report showed Commercials have been increasing short contracts and reducing long contracts, both aggressively. My experience tells that Commercials are setting up a prolonged price slump for gold and silver. It takes time for Commercials to build up their short positions. In the following weeks, gold will consolidate above 1200; which will serve two purposes: one is for Commercials to keep shorting gold at a good price; the other is to buy some time for bullion dealers to reduce their physical inventories before the price slump starts. (All prices mentioned are in USD)
If they are hedged then a "price slump" means nothing, correct? I am struggling to understand these contradictory posts.
Do you think he spammed the gold board with multiple threads within minutes because he cares about what he posts? Source:
Past weekly COT report showed Large and Small speculators added some short position against gold. Since the report only included data before Tuesday, the rest of last week we immediately saw gold price popping above 1,200. It is very easy to understand the price movement. Commercials WANT to short gold; but they DON'T WANT anyone else to follow them. The week after next will be the scheduled FOMC meeting. Commercials might knock the gold price down before the meeting; not giving any chance for Speculators to short the gold
Indeed. Or Greece may default. Or a war break out. One thing is certain. Some fool will be trying to guess the gold price based on nothing. Leon1998 is that fool.
You're a hard old bugger. Just from your written word , you remind of a fellow i did my fabrication apprenticeship with/for. He was constantly taking the piss out of me if i have gave him a reason. He was also the first one to offer ( may be even demand) that i come stay with him when my first marriage collapsed.
Now divorce is REAL economic doom. You have my sympathies there seen that destroy more men than war and disease combined..
Meh. You want sit being Cassandra in a dress for 6 months and when a price fluctuation happens you put on lipstick and want to be called darling? I think you will find (qualified by describing price predicting as gonad rubbing) that seasonality looked like 1100 in June. Only a tit would sit there reposting dross though. It is and was just like this fluctuation of almost zero importance if you are holding long as part of a balanced portfolio. You don't have one do you? As soon as you started posting five threads back to back with the same content I said to myself - arsehole. And every time I see your drivel....I think the same.
Gold 1,190 usd Silver 15.82 usd SMACK DOWN AGAIN. What a face slapping, wow To add insult to injury, gold will hit 1,180 usd SOON.
To have bought in early and sold at the top would have been fantastic. The only way i can see to get these gains with out the years of waiting is PENNY STOCKS, lol.
Stirling this is not a speculation this is saving. That is where people go wrong in PM. If you buy and hold and save your spare cash in PM then over time you will preserve your wealth. This is not a get rich quick scheme. It is savings....
