PoulsboTrader
Big drop once again in the commercial net short, this week it's down to 221k, last week was 271k and the previous week before that was 315k!  Realize that 221K is not major bottoming territory that is generally below 100K, however this is still quite a drop of almost 100K, which in recollection is the fastest drop ever seen in the last 13 years or so.
Quote 0 0
AbovetheGreenLine
If our Elliott Wave Count is correct, Gold had a Huge Bull run from 2002 to 2012, when it finally went Parabolic to $1900 (looks like current weekly Chart on AMZN!)

Then it had a 5 year Correction (A-B-C)... to Flush out those who bought on fears of a collapsing Dollar.

Now it should be back in a Impulse Bull (5 Waves) ... Now in Wave 2 down... If this count is correct, once Wave 2 down is over, Gold could have a $500+ Wave 3 rally up!  That could be fun...



GOLD.png 
Elliott Wave.png 
Good trading, and tell your friends!
Quote 0 0
PoulsboTrader

 

If there was ever any doubts that gold prices are rigged consider that last week alone over 1000 tons of paper gold was sold. That number represents nearly half the world's annual production. And all the while demand for physical gold continues to outstrip supply. When the music stops, people will wake up to find a new world currency backed by gold. And all the West's gold reserves will have disappeared. And the same ruling elites that have been literally robbing the Western world blind will be found to have literally thousands of tons of gold sitting in their private vaults. Gold which suddenly is worth 5 times what they paid for it.... Gold Screen-Shot-2016-10-14-at-10_09_33.png   

https://goldswitzerland.com/the-gold-manipulators-will-be-punished/

Quote 0 0
PoulsboTrader

 Any comments about this statement?

If there was ever any doubts that gold prices are rigged consider that last week alone over 1000 tons of paper gold was sold. That number represents nearly half the world's annual production. And all the while demand for physical gold continues to outstrip supply. When the music stops, people will wake up to find a new world currency backed by gold. And all the West's gold reserves will have disappeared. And the same ruling elites that have been literally robbing the Western world blind will be found to have literally thousands of tons of gold sitting in their private vaults. Gold which suddenly is worth 5 times what they paid for it.... 

https://goldswitzerland.com/the-gold-manipulators-will-be-punished/

Quote 0 0
AbovetheGreenLine
PoulsboTrader wrote:

 Any comments about this statement?

If there was ever any doubts that gold prices are rigged consider that last week alone over 1000 tons of paper gold was sold. That number represents nearly half the world's annual production. And all the while demand for physical gold continues to outstrip supply. When the music stops, people will wake up to find a new world currency backed by gold. And all the West's gold reserves will have disappeared. And the same ruling elites that have been literally robbing the Western world blind will be found to have literally thousands of tons of gold sitting in their private vaults. Gold which suddenly is worth 5 times what they paid for it.... 

https://goldswitzerland.com/the-gold-manipulators-will-be-punished/



Thanks for the info! It looks like many Investors are resisting the fact that Commodities are CHEAP, relative to Stocks & Bonds... 

We will find out soon if the Dollar peaks out...

Good trading, and tell your friends!
Quote 0 0
PoulsboTrader
Gold commercial net short dropped quite rapidly from 315K to 203K in about a month the other week. Now the drop from last week,  went from 203K to 125K!  That's a hell of a drop in a week.  Remember the data is as of Tues as it's offset by 3 days.   Net shorts could drop further and we could be getting close to another bounce in gold and gold miners.

AU

GFI

AG

ABX
Quote 0 0
AbovetheGreenLine
Yes, and the Gold Miners are stronger than GOLD, and could be finishing Wave 2 down soon:

GDX.png 


Good trading, and tell your friends!
Quote 0 0