Watch the Net Commercials position (from last tuesday's Commitment of Traders CFTC report) in Gold......WOW!!! (Chart shows the trend adj. net position of the commercials in red)Apparently the Miners and some quasi Commercials (like JPM in particular) are betting big time that Gold will tank right around the time that the INFLATIONISTAS have bet the farm on the next big upleg in inflation (higher interest rates, higher oil, higher gold, lower US$) after the inverse Triangle break-out in Gold.
The Commercials were particularly right the last 2 yrs so it will be interesting to see whether the market will steamroll them (and force them to cover) or wether they are right this time again.
It clearly seem though as if we are VERY CLOSE timewise to some kind of resolution of the current extremes.
Someone will loose a lot of money here ...either the Commercials or the Non-Commercials, i.e. the Speculators (Hedgefunds)
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