From David's Desk
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David Schectman |
We May Have Just Made a Generational Bottom
In gold, the total commercial net short position is now down to 22,800 contracts, which is a low for a decade. In the last seven and a half months, the commercials reduced their net short position by 236,000 contracts - which is the equivalent of 23.6 million ounces. Someone with deep pockets (JPM?) has bought up $75 billion worth of gold in just over half a year.
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