After the pullback, here is a breakdown of where things stand in the gold market.
9k Lots Below 2016 Record
August 20 (King World News) – Ole Hansen: “Gold and silver were sold, primarily due to the washout last Monday when the White House delayed tariffs until December. The 55-dollar top to bottom move in gold that day helped trigger a small 2% reduction on the week to 278k lots, some 9k lots below the 2016 record (see below).
Managed Money Remains Crowded Long Gold
Silver Is Neutral As Managed Money Reduces Longs
Key week ahead with an elevated long, both in futures and ETF’s, looking to Jackson Hole for central bank support. A classic relief rally in stocks leading to profit taking in bonds has added some downward pressure so far today with key support being the $1480-85 area. (See below).
ELEVATED GOLD LONGS: Key Support For Gold At $1,480-$1,485
KWN has released the powerful audio interview with Rick Rule where he discusses chaotic global markets and what investors need to be doing right now, plus what he expects next in major markets, including gold CLICK HERE OR ON THE IMAGE BELOW.
Turk – Silver Squeeze May Begin Next Week
READ THIS NEXT! James Turk – We May See A Squeeze In The Silver Market Next Week CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
Greyerz Just Warned The Paper Gold Market Is Vulnerable CLICK HERE TO READ
Panic In World Markets And A Brave New World CLICK HERE TO READ
Rick Rule – This Is The Wildest Market I’ve Been Confronted With In 45 Years CLICK HERE TO READ
A Week Of Panic Plus Gold & Silver Commercial Positions CLICK HERE TO READ
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