This fragile equities market plays a key role in determining gold’s next move according to Gary, in that, “When it breaks, the Fed is going to freak out, [and] they’re going to double, triple, and quadruple down on QE to try and pump stocks back up, [and] that liquidity…[is] going to find something else…I don’t believe it’s going to pump up a double parabola in stocks…[It's] going to look for something that’s undervalued…and that right now is commodities in general, more specifically—gold.”
The Got Gold Report's Gene Arensberg flashes tonight that U.S. banks, some of the four biggest commercial traders in gold futures, have reversed position dramatically in a month from net short to strongly net long. Arensberg's flash is posted at the Got Gold Report -
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