When we look at the cast of characters in the metals market, those who produce gold and those who consume it are considered the smart money because they are usually the first to spot the changing trends. This chart by Got Gold Report Website (Gene Arensberg) shows their current positions. Note how they have now moved to their lowest net short position since the 2008 crash. That last major correction went from approximately 1000 to 700 and this current correction from approximately 1900 to 1300. In other words, just about the same in percentage terms. This is coming at a time when gold and silver often put the lows in for the year. The average seasonal turn when we factor in the past 13 years has been around July 12th. We’ve seen turns as late as Mid August and the 2008 crash didn’t make the low for the year until October. We’ve seen as early as February/March in some years. For the most part, the June/August time period is where most of the lows for the year take place. Suffice to say that at the current time, the “smart” money feels that the current prices are reflecting gold as fairly valued if not a bit cheap. For what it’s worth, they have COVERED a majority of their short positions.
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YOU SHOULD NOT TAKE ANY MATERIAL posted on this BLOG AS RECOMMENDATIONS
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
TO BUY OR SELL GOLD OR ANY OTHER INVESTMENT VEHICLE LISTED.
Do your own due diligence.
No one knows tomorrow's price or circumstance.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
I intend to portray my thoughts and ideas on the subject which may s be used as a tool for the reader.
I do not accept responsibility for being incorrect in my speculations on market trend.
King Regards
