Here Is The Reason For Gold’s Massive Surge Above $1,300
KingWorldNews.com
July 22, 2013
With gold surging above the critical $1,300 level, today the man who provides macro research and commentary to many of the largest financial institutions and top hedge funds around the world sent KWN 6 absolutely stunning gold charts illustrating the why the gold market has smashed well above key resistance. Eric Pomboy, who is founder of Meridian Macro Research, also provided incredible commentary to go along with the 6 remarkable gold charts, as well as what all of this means going forward for the gold market.
By Eric Pomboy Meridian Macro Research
July 22 (King World News) – Gold Surges Through Key $1,300 Level – Charts Of The Day
“COT data for week ending 7/16 show Commercials added to their Net Short Position by ‐5,566 contracts. As for the Specs, they added +6,905 contracts, bouncing off the lowest Net Long position since 2005. It’s too early to tell of course, but the data may signal the bottom for Gold is in.
The Rest…HERE
