With paper claims in the gold market now at unfathomable levels, today King World News is pleased to share a shocking development in the war in gold.
The following charts are from Jason Goepfert at SentimenTrader.
King World News note: Below you can see the commercial hedgers most recent position in the gold market. Note that commercial hedgers have aggressively continued to cover their short positions on the recent decline in gold (see chart below).
King World News note: The chart below gives a roughly 23 year look sentiment in the gold market. You can see that during the latter stages of the bear market (up to the year 2001) the commercial hedgers were net long the gold market. The fact that the commercial hedgers are essentially flat while gold is in a secular bull market is quite remarkable (see astonishing chart below).
King World News note: It is also worth noting that the chart below shows how sentiment in the gold market has moved back very deep into excessive pessimism readings (see chart below). This is the type of thing you would expect to see at the end of a cyclical bear phase that is inside of a secular bull market.
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.
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