Replies to post #38037 on GOLDBUGS AMEX Goldbugs Index (GOLD)

[DiscoverGold]

Peek Into Gold Future Through Futures

* December 3, 2016

Following futures positions of non-commercials are as of November 29, 2016.

Gold: Between November 30 last year and July 5 this year, spot gold rallied nearly 32 percent. From that high through Thursday’s low, the metal gave back nearly 16 percent. This also retraced 61.8 percent of that earlier rally (at $1,172.3 to be precise).

For Fibonacci followers, this is a good spot for gold bugs to put their foot down. The metal is trying to stabilize, with the cash ($1,177.8) unchanged this week. Flows need to improve.

In the week ended Wednesday, GLD, the SPDR gold ETF, lost $294 million. In the prior two weeks, $2.5 billion was redeemed (courtesy of ETF.com).

Currently net long 151.6k, down 15.5k.



http://www.hedgopia.com/cot-peek-into-future-through-futures-72/

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