Loading ...Thing with the COTs is the idiot gambler funds think they actually own gold by trading the futures…so they are hanging on to their positions like they are bullion.
With the amount of dollars that went into buying futures over the last 6 months or so, gold would be much higher right now if that capital had been directed towards hard (physical) bullion.
So if this continues, where the gamblers hang on to their futures contracts, the most likely outcome is force majeure at some point when Comex fails to deliver and they can’t obfuscate with more LMBA bullshit (little physical is going out of here as well).
And the adjustment when that occurs should be quite violent.
Have a good weekend.
Cheers