Replies to post #37882 on GOLDBUGS AMEX Goldbugs Index (GOLD)

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Peek Into Gold Future Through Futures

* October 15, 2016

The following are futures positions of non-commercials as of October 11, 2016.

Gold: On Friday last week, gold bugs put their foot down while defending $1,240 support on spot gold. That low has not been violated. The metal spent the week trading around the 200-day moving average. Ditto with GLD, the SPDR gold ETF. There is a tug of war going on between bulls and bears around that average. In the past seven sessions, GLD had four dojis and a gravestone doji on Friday. Daily technicals are oversold. The path of least resistance is up – at least near term.

In the week ended Wednesday, GLD gained $455 million, following redemption of $127 million in the past couple of weeks (courtesy of ETF.com).

Currently net long 195.2k, down 50.3k.



http://www.hedgopia.com/cot-peek-into-future-through-futures-65/

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