GOLDBUGS AMEX Goldbugs Index (GOLD)

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Peek Into Gold Future Through Futures

* February 4, 2017

Following futures positions of non-commercials are as of January 31, 2017.

Gold: On Friday last week, gold bugs defended the 50-day moving average on the cash. This also approximated support at $1,185/ounce. So far so good. On the weekly chart, the cash has room to rally, with a fresh bullish MACD crossover.

The 200-day lies at $1,266.66. For the cash to rally that far near term, flows need to improve.

In the week ended Wednesday, GLD, the SPDR gold ETF, attracted $416 million. This was the second week of inflows in the past 12, during which the ETF lost $5.6 billion (courtesy of ETF.com).

Currently net long 119.2k, up 9.7k.



http://www.hedgopia.com/cot-peek-into-future-through-futures-81/

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