There is no way the price of gold has topped. Plus we are in one of the most speculative environments in history.

Speculative Mania
April 17 (King World News) – Otavio Costa:  Call option volumes surged again to all-time highs this last quarter.

This level of interest in derivatives is highly associated with the current retail trading frenzy.

One Of The Most Speculative Environments In History

To be clear, this is not representative of a market bottom.

Yes, the explosive growth in very short-term contracts also played a role, but broadly speaking, this is one of the most speculative environments in history

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BTFD: No Way This Is A Top For Gold
Fred Hickey:
  COT:  Managed Money (hedge funds & commodity traders) long gold futures positions -7.3K as of Tuesday BEFORE [Friday’s] bashing (likely due to increased shorts). 6.4 ton gold outflows over last two days from largest gold ETF – GLD. Open interest low. No way this is major top.

Gold/Silver had a nice rally. Corrections are healthy. Still zero interest from Western investors. European Gold Forum this week had extremely sparse attendance. May need Teslas/NVDAs/FAANGs to crater first before Western investor interest piques. Likely coming to a Fall near you.

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ALSO JUST RELEASED: Greyerz – This Everything Global Collapse Will Be Unlike Anything Seen In History CLICK HERE.

**To listen to Alasdair discuss the collapsing available physical gold and the other big catalysts for the gold and silver markets CLICK HERE OR ON THE IMAGE BELOW.

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