Gold To Rally On Data, Not Hope – David Brady
>“a rally to 1360 or higher in Gold within the next three weeks is based not on hope, but data.” Here’s the details…
SilverDoctors.com
May 31, 2018
By David Brady via Sprott Money News
My belief that a rally to 1360 or higher in Gold within the next three weeks is based not on hope, but data. Signs that a significant Gold rally is pending or has already begun…
POSITIONING
At 16.5k contracts, Money Managers’ (or “Funds”) net short position is the lowest since Jan 19, 2016, when Gold began its historic rally from 1045 to 1377, or $232, in the next six months.
Commercials net short position of 116k is the lowest since Feb 9, 2016, excluding 4 weeks in July 2017 when Gold rallied from 1204 to 1362, or $158, in just the next two months.
Commercials gross long position of 203k is the highest since July 2013, when Gold climbed from a low of 1207 to 1434, or $227, in just two months. It is also the fifth highest gross long position ever, i.e. since 1986. That’s the fifth highest in the past ~1500 weeks. It was only higher in two weeks in each of 2013 and 2010.
The Rest…HERE