GOLDBUGS AMEX Goldbugs Index (GOLD)

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Peek Into Gold Future Through Futures

* January 14, 2017

Following futures positions of non-commercials are as of January 10, 2017.

Gold: The good: the cash continues to show nice price action. It took out the 50-day moving average ($1,190.87/ounce), and has been rallying along the rising daily upper Bollinger band. The bad: three straight up weeks have been unable to stop the outflows.

In the week ended Wednesday, GLD, the SPDR gold ETF, lost another $325 million – $721 million in the past three. This was the ninth straight weekly loss, totaling $5.7 billion in outflows (courtesy of ETF.com).

The metal ($1196.2) looks a little extended on the daily chart – but not so on the weekly. There is resistance at $1,200.

Currently net long 109.5k, up 12.9k.



http://www.hedgopia.com/cot-peek-into-future-through-futures-78/

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