Slope of Hope: GOLD20160702.jpg

Looks like Gold have done false start this year. Too many opened long positions by short term speculators acording to COT data (comintment of traders). Too little long term investors buy (according to Keith Weiner analisis of Gold spot-futures spreads http://www.acting-man.com/?p=45606). Confidence to financial system is not broken yet. NIRP is not driving people to gold yet. I anticipate sizable correction this year, may be to (2) support line. Recent years gold has tend to make bottom in December, it may be the case this year. But spike to 1400 - 1450 is possible before.

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Comments

Tim Knight

Let's get both gold AND the S&P to 1577, shall we? 7/2/16

Greenbuckeye

http://content.screencast. com/users/Greenbuckeye/folders/Jing/media/9c1206bd-57d8-46d6-9993- 023d4e81774e/2016-07-01_2032.png

This charts shows Gold is still in a bull market

7/2/16

Dimon

I agree, bull trend is started. But i anticipate sizable correction. When long term investors start to buy then this bull trend become more sustained 7/2/16

Dimon

$gold:$crb looks like have peaked for this year http://tsi-blog.com/2016/06/gold-has-peaked-for-the-year/ 7/2/16

Tattoo522

Gold COT data is useful during gold bear markets to show short/intermediate-term tops & bottoms. It is absolutely useless during gold bull markets. Time to transition your indicator. 7/2/16

7/2/16

Dimon

I disagree. COT data is usefull during bull market too. The difference only is range of changes. Extreme net longs with lack of long-term buys is intermediate-term bearish for gold. It's not safety to buy now at least. Coming months give better opportunities to buy. 7/2/16

Dimon

I have published COT data with some road map 7/3/16

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