Loading ...Well, you obviously know that I’m hoping your instincts prevail. The Commercials did add 18K + longs in gold maybe for a “just in case” scenario? Or maybe just to dump in a couple seconds anytime gold shows a bit of strength.
You make a lot of good points.
I’ve just been burned so many times by false rally attempts I have a hard time believing any potential rally is real and I’ve actually never seen lopsided COT data like we’re seeing now fail when it comes to the downside.
Couple that with the great news out of the G-20 on trade with China and now Trump meeting with Kim in North Korea on nukes and lastly a thinly traded 4th of July week – things could get seriously ugly in a hurry.
Hope you’re right and my fear is unfounded.