Today King World News is pleased to share a fantastic piece which give readers a remarkable view of the war in the platinum and gold markets. This piece also includes three key illustrations that all KWN readers around the world must see.
Jason Goepfert at SentimenTrader: "The latest Optimism Index readings for currencies and commodities shows platinum again on top of the most-hated list. At a current level of 14, its Optix is the lowest since 1998. Over the past year, it has dropped below 16 twice, north preceding short-term rallies in the metal, so it may pay to watch a fund like PPLT to see if the selling pressure can once again take a breather for a month or two."
King World News note: If you look at the platinum hedgers position chart below, it shows the hedgers have now moved into one of the most bullish trading positions in years. They are bucking the bearish trading pattern in platinum as well as the "excessive pessimism" (see chart below).
King World News note: If you look at the Gold Optix chart below, it reveals that sentiment in the gold market is also showing extreme pessimism. Incredibly, sentiment in gold is well below what it was at the bottom of the 2008 – 2009 collapse, even though the price of gold is almost $450 higher (see chart below and compare sentiment today vs the 2008 – 2009 collapse low in gold).
These charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
***ALSO JUST RELEASED: Bill Fleckenstein – Why This Global Collapse Will Be Different Than 2008 As Chaos In Greece Continues CLICK HERE.
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