GOLDBUGS AMEX Goldbugs Index (GOLD)

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Peek Into Gold Future Through Futures

* January 21, 2017

Following futures positions of non-commercials are as of January 17, 2017.

Gold: At long last some inflows. After nine consecutive weeks of outflows totaling $5.7 billion, GLD, the SPDR gold ETF, attracted $115 million in the week ended Wednesday (courtesy of ETF.com).

Too little, too late?

From December 15 through January 17, the cash rallied 8.4 percent, rallying past several important averages. Leading up to and throughout all this, the ETF bled.

Now, daily technicals are in overbought territory, with the metal ($1,204.9/ounce) acting as if it wants to head lower.

Gold bugs need to defend $1,185, which also approximates the 50-day moving average.

Currently net long 107k, down 2.4k.



http://www.hedgopia.com/cot-peek-into-future-through-futures-79/

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