GOLDBUGS AMEX Goldbugs Index (GOLD)

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• • • Peek Into Gold Future Through Futures • • •

* March 18, 2017

Following futures positions of non-commercials are as of March 14, 2017.

Gold: Currently net long 106k, down 27.6k.



Support at $1,180 held. The cash dropped intraday last Friday to $1,194.5. That was a doji session, followed by another this Tuesday. These ‘indecision’ candles preceded a 0.9 percent jump this Wednesday, when the Fed supposedly delivered a ‘dovish’ hike.

In February, gold bugs had difficulty taking out and then staying above $1,240-ish. In fact, the metal rallied all the way to $1,264.9 on February 27 before getting repelled by the 200-day moving average. Resistance at $1,240-ish likely gets tested again.

In the week ended Wednesday, flows trend improved. GLD, the SPDR gold ETF, attracted $102 million, but more importantly, in the first three sessions this week it pulled in $550 million (courtesy of ETF.com).

http://www.hedgopia.com/cot-peek-into-future-through-futures-87/

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