#Gold shares are not oversold but are in neutral territory and physical gold and silver is in neutral territory and this for weeks already.
Commitments of Gold Futures Traders show
large speculators (hedge funds and money
managers) reduced their long positions taking
the losses. Net commericial gold traders
reduced their short positions cashing in gains.
Net commercial dealers almost always win
against large speculators, although they have
sometimes to be very patient. Positions are
still very large but we like what we see that
short sellers are satisfied with their gains
(attachment 1).
As per Dr. Murenbeeld's Gold Monitor the
speculators on COMEX have finally cut back
on their net-long positions by 159 tonnes
equivalent through last Tuesday. We are sure
long liquidation had further accelerated during
the later part of the week.
