US Bank Gold Positions Explode By Highest Rate On Record; Short Positions Collapse
By Tekoa Da Silva
June 10, 2013
In a fascinating reaffirmation of the fundamentals of the gold bull market, US Banks & Large Traders as defined by the CFTC as being, “commercially engaged in business activities hedged by use of the futures or option markets,” have quietly flipped from being tremendously short gold in late 2012, to now being tremendously long.
Furthermore, the speed of this change in positioning has occurred at the fastest rate since the data set began in mid-2000.
As shown below, on a month over month basis, US Bank & Large Trader long positioning has increased dramatically, with short positions being covered at the greatest rate of speed ever recorded: