A warning signal is flashing gold may soon correct in order to consolidate recent gains even as a tidal wave of money continues to pour into the gold market.
June 25 (King World News) – Holger Zschaepitz: “Peak Dollar? Hedge funds have pared their bearish Euro bets even as Draghi hinted at increased accommodation by ECB ahead of Fed’s own dovish lean on Wed. Euro net short positions fell from -86,792 contracts to -52,330 contracts, biggest weekly drop since Jan2018. (See chart below).
Hedge Funds Covering Euro Shorts – Biggest Weekly Drop Since January 2018
Gold Leaving Silver In The Dust For Now
Ole Hansen of SaxoBank: “Gold has put silver and other semi industrial metals completely in the shade for now. XAUXAG (Gold/Silver ratio) at a record 92.5 while Platinum’s discount has reached a record $620/oz. Both in need of the fiscal policy panic that may follow once rate cuts fail to move the growth needle. (See chart below).
The Big Picture For Gold
CAUTION: Warning Signal Flashing Gold May Correct
Ole Hansen of SaxoBank continues: “Gold update: The 3 month 25 delta risk reversal just touched 4% (calls over), the highest level in almost ten years. While highlighting the bullish sentiment following last week’s breakout it has also raises the risk of a s/t correction (BUT NOT A REVERSAL IMO) (See chart below).
CAUTION: Gold Market May See Correction In Order To Consolidate Gains
Serious War Raging In The Silver Market
READ THIS NEXT! Gold Surges Above $1,430 On Strong Physical Demand In Asia, But A Serious War Is Raging In The Silver Market CLICK HERE TO READ
More articles to follow…
In the meantime, other important releases…
FEAR INCREASING: Record Gold Buying Spree Continues – Gold Hits $1,425 And Look Who Is Beginning To Worry CLICK HERE TO READ
Price Of Gold Is On A Tear – 3 Pros Weigh In As Gold Surges Again, Vastly Outperforming World Currencies CLICK HERE TO READ
Price Of Gold Surging Hitting 6 Year Highs Above $1,415, But This Is Truly Stunning CLICK HERE TO READ
Greyerz – Gold Giving A Major Warning Signal And Silver Coiling For An Explosion To $66 CLICK HERE TO READ
Michael Oliver worked directly with the Chairman of the COMEX in the 1970s bull market in gold and silver and he also called the 1987 stock market crash!
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