Loading ...I agree with you about Gov’t numbers and the COT Report. The only thing I can say about the COT is that when the banks get short and continue to get shorter, we get hit. That seems pretty consistent. Doesn’t work as well on the upside.
It does appear to me that the scum is having to rely more on selling their own long contracts to get the desired result – in gold- rather than the funds puking their longs. Probably wishful thinking on my part.
Thought about that JPM reco on gold. Pretty weak reco, they are saying the avg. price of gold will be $2175 by the 4th quarter. Not exactly a big move.
The SM closed a bit weak yesterday after being up all day. A long way from crashing though.