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The Pack
Public·28 The Pack
Good morning I receive an email subscription from an organization called the national inflation Association and last week they reported that there was a large short position in gold in that the anticipated a rise in Gold due to the fact that the shorts needed to be covered and sure enough I believe gold jumped over $100 an ounce last week.
Tuesday, October 10th has its largestshort position since November 1, 2022, when gold had a managed money short position of 121,381 contracts. On November 1, 2022, gold was only $1,645.25 per oz and a shortsqueeze took gold to $2,030.20 per oz on May 9th 2022.
This is the most extremely bullish thing that we have ever seen for gold, because the managed money short position is near November 1, 2022 levels but gold is $214.25 per oz higher than on November 1, 2022!
If the last short squeeze took…
t-dub
Dec 15, 2023
The price of gold has been, and is, heavily manipulated, however the laws of nature can only be bent so far for so long and eventually the price of gold will rise in response to the continuing demise of the US dollar.
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Ohh wow, I knew if was off from the models but I didn't know how far off. Thanks for sharing this!