Gold Bugs Put Foot Down Last 2 Weeks, Hoping Cooperation From Real Yields Ahead

Gold peaked last August, before beginning a strong downtrend. Amidst this, gold bugs have put their foot down at dual support, rallying the metal the last two weeks. Important resistance lies ahead. Real yields likely come to gold’s aid in … Continued

Gold Stages Major Breakout, Breakout Retest Likely N/T

Gold is regaining its lost luster.  Last week, it staged what could turn out to be a major breakout.  If genuine, the metal in due course could head toward retracing 61.8 percent of the September 2011-December 2015 decline. Gold ($1,400.10) … Continued

Several Risk-On Metrics Diverging, But Momentum Ball With Bulls For Now

US stocks rallied strongly last week.  Bulls enjoy momentum right now.  That said, risk-on is not full-on.  What transpires at 2890s on the S&P 500 can be a tell near term. May’s employment report was mixed at best and disappointing … Continued

Gold Right Under Major Resistance – Bulls Deserve Benefit Of Doubt Medium- To Long-Term

With higher lows since the December 2015 trough, gold finds itself right underneath major resistance.  A breakout would speak volumes about the global economy and how major central banks would react in response.  Near-term notwithstanding, gold bugs deserve the benefit … Continued

After Nice Rally Since Early Oct, GLD Approaches Decent Resistance

posted in: Commodities, Derivatives, Technicals | 0

Gold has had a nice rally since early October, and is extended on both daily and weekly charts.  It is also at dual resistance.  Near term, recent longs can get tempted to lock in profit. Spot gold ($1,288.40/ounce) looks tired.  … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of December 11, 2018. 10-year note: Currently net short 393.8k, up 100.6k. Next week – on 18-19 – the FOMC meets.  This is the last meeting this year.  A 25-basis-point raise is expected, … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of October 2, 2018. 10-year note: Currently net short 740.2k, down 16.1k. Kudos to non-commercials for having doggedly remained bearish on 10-year Treasury notes.  They reaped a bumper crop this week.  In September … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of September 25, 2018. 10-year note: Currently net short 756.3k, up 71.6k. Markets versus the Fed. Odds of a collision next year continue to rise.  Post-FOMC meeting this week, the dot plot kept … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of September 18, 2018. 10-year note: Currently net short 684.7k, up 2k. The 10-year Treasury rate (3.07 percent) has once again reached a battle zone.  The last time these notes yielded just north … Continued

CoT: Peek Into Future Through Futures, How Hedge Funds Are Positioned

Following futures positions of non-commercials are as of September 11, 2018. 10-year note: Currently net short 682.7k, down 73. The 10-year Treasury rate (2.99 percent) rose from 2.81 percent on August 22 to Friday’s high of three percent.  At least … Continued