COT Gold Charts, page-3

Thanks Slange!

I'm not a trader, but do take small quick trades every now and again. Personally, I prefer to buy from a macro perspective and take the opposite longer term view when markets are at extremes.

My only view I'll share on the current data - shorts are being unwound by commercials as the gold price falls (nothing new there). At the rate and trend which this is transpiring it's highly probable that overall COT spreads would be at equilibrium if we were to retest the 2015 low of ~$1,050. There doesn't appear to be a catalysts developing in the future markets to drive the price to new lows - more likely a double bottom and bounce - if we get down that far again. Only if we see commercial shorts increasing as we fall should we be concerned of another 2012 type gold flogging scenario sub $1,050.

However, this is all a USD based gold discussion and does not consider the AUD tanking too. As an Australian gold mining investor the AUD movement is just as important, and for my mind I can see big falls in 2017 (not a Sunday discussion).

Anyhow, thank you for your response and interested in hearing others views as the data presents.

Profits to all!