fyi, McClellan's weekly missive is about GOLD COT data. looking
for a bounce akin to back in June 2013 when COT data was at
similiar levels.
"...One of the big fears that is voiced about gold is that the
presumptive end to QE will be bad for gold prices because the Fed
will stop printing excess money. But what those voices seem to
forget is that QE has not been all that helpful to gold over the
past couple of years. Gold topped at $1900/oz in 2011 when the
Fed's balance sheet was smaller than it is today, and that increase
in the balance sheet since then has not stopped gold from falling.
So if the end of QE is really a bad factor for gold, then why was
the continuation of QE since 2011 not helpful for gold?..."
good trading.
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COT data - GOLD
GDX my scenario will be one more flush down as soon as tomorrow with big job number. Commercials are ready and we are close to oversold on daily chart. Good luck to all.
Posted by hazbin1 on 6th of Dec 2013 at 03:03 pm
fyi, McClellan's weekly missive is about GOLD COT data. looking for a bounce akin to back in June 2013 when COT data was at similiar levels.
"...One of the big fears that is voiced about gold is that the presumptive end to QE will be bad for gold prices because the Fed will stop printing excess money. But what those voices seem to forget is that QE has not been all that helpful to gold over the past couple of years. Gold topped at $1900/oz in 2011 when the Fed's balance sheet was smaller than it is today, and that increase in the balance sheet since then has not stopped gold from falling. So if the end of QE is really a bad factor for gold, then why was the continuation of QE since 2011 not helpful for gold?..."
good trading.