In recent Factor communications I have cited the record large open interest by large specs and record short open interest by commercials as a possible negative for Gold prices. Never one to trust myself, I decided to dig deeper to find out if my claim held water.
In fact, there is no recent evidence that such extremes in commercial shorts and large spec longs are negative factors on subsequent price action.
https://www.peterlbrandt.com/wp-content/uploads/2016/06/cftc-gold.jpg8551322Peter Brandthttps://www.peterlbrandt.com/wp-content/uploads/2020/04/TheFactorReport-small-logo.jpgPeter Brandt2016-06-28 15:45:152016-07-02 05:38:02Do the CFTC COT data forecast a decline in Gold prices?
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