Dear Steemit friends,
The most recent Commitment of Traders report on gold shows that the commercial traders (the smart money) are at extremely low levers of net short positions, while speculators (dumb money) are at extremely low levels of long positions.
Last time we saw these extremes was in mid-2013. That time, these record CoT positions were followed by a rally in gold price, when gold price increased from just under $1200 to just over $1400.
We are currently close to the same price level (just about $1200). So, if history repeats, we might see gold close to $1400 over the next several months. Wouldn't that be nice? Share your thoughts in the comments below.
Yes, gold price decline has been long, and sentiment is very low now.
Yes, gold price decline
Has been long, and sentiment
Is very low now.
- jennet6688
I'm a bot. I detect haiku.
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