We have learnt from a mistake made early in 2016 when we called the end to the strong rally in progress then off the lows of the giant complex Head-and-Shoulders pattern too early due to high Commercial short and Large Sec long positions.

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A key point to make at this juncture is that the latest COTs for gold looked bearish because there was an explosion in Commercial short and Large Spec long positions to an at least 1-year peak, which many are taking to mean that gold will fail again at the big resistance at the upper boundary of its huge base pattern. But what may instead happen this time is that gold breaks out anyway, perhaps after backing off a little first, and rockets higher, with positions ballooning to well off the scale levels, which would hardly be surprising since if gold breaks out above $1400 a huge number of investors and traders will come down off the fence and pile in. When they have reached wild extremes on a spike, then we will see a correction or at least a consolidation before the next upwave starts. We have learnt from a mistake made early in 2016 when we called the end to the strong rally in progress then off the lows of the giant complex Head-and-Shoulders pattern too early due to high Commercial short and Large Sec long positions.

https://tinyurl.com/y3cpoq3c

Thanks for the welcome. No, was not in sugar.

Welcome back!

Have been here and never left gold.  Will never forget your tip on gold options, if I remember right $600.

Bought 20 and road. Thanks again King.

Deer79 – They can and do hit this stuff whenever they want. Today was obvious, HUI got up near two previous highs with an RSI over 70 and it was obviously toast. gold hits the nice round number of $1350 and toast as well.

As for “King Richard” he’s a good trader and I have little doubt that he was tits short for the obvious.

COT’s are even worse if that is possible, so look out below. Back to $1280 is my guess, war of any kind, whether trade or real is always bad for pm’s.

https://cftc.gov/dea/futures/deacmxlf.htm

They had to come in today, or the whole world will be looking at the Gold breakout..and that just can’t be allowed with all the debt that is out there and the SM at near record Hi’s. The mirage must be maintained or the people will wake up and wonder what the hell the idiots have done.

This week in the UK our dead duck PM, Treason May has enacted a policy into law that says the UK will be Carbon neutral by 2050, there was no parliamentary discussion allowed, she just issued the edict and parliament agreed, even her own Chancellor thinks it’s mad and said it will cost at least £ 1 Trillion, close down all our heavy industry, force all home owners to use only electric power, only electric vehicles, no more diesel lorries etc etc….

In a sane world our stock mkt should have collapsed…but tks to the rig it barely blinked …

lol Can’t lose right now with dollar hedge. Esp if Gold can break through 1350.

The alibi today is maybe the FED WON’T cut rates…but they may have to…so we won’t call gold totally out of the picture=

It’s shaping up to be Albert Edwards‘ year, if not decade and century.

Three years after the stock of global debt with negative yields hit an all time high just above $12 trillion, the NIRP trap is back, and the amount of sovereign debt sporting a negative yield is just shy of all time highs, hitting $11.7 trillion today according to Bloomberg, nearly double where where it was just last September.

Of course, that this is taking place with the S&P500 just a few percent off all time highs is the reason why traders are having nightmares – this does not happen when everything is hunky dory in the economy, and in fact it is an indication that risk assets are overinflated only for one reason: expectations that the Fed will step in and “rescue” risk assets.

A reading of the economy from Morgan Stanley is signaling “June gloom.”

Morgan Stanley’s Business Conditions Index, which captures turning points in the economy, fell by 32 points in June, to a level of 13 from a level of 45 in May. This drop is the largest one-month decline on record and the lowest level since December 2008 during the financial crisis, according to the firm.

Not even during the last recession did we witness a monthly decline of that magnitude.

The speed at which the global economy is now deteriorating is breathtaking, and the crisis that so many thought had passed us by could actually be right on the doorstep.

It still seems the crooks can snap their fingers and take the price of the metals wherever they want.

Gold is safely under 1350 now–the emergency is over…

so for gold to have any gain is unusual…but how long can gold buck a strong dollar and a deluge of comex selling? Silver has had a 25 cent reversal…Wow! They sure “prettied it up” from 9 hrs ago…what has really changed in the case for gold…nothing!

G&S may be in trouble…

The gold miners’ stocks have surged powerfully over the past few weeks, challenging upleg highs. Traders started returning to this small contrarian sector as gold blasted back above the psychologically-crucial $1300 line. While such early-summer strength is atypical, gold miners’ technicals, sentiment, and fundamentals all support more gains to come. Gold stocks need to mean revert to much-higher price levels.

http://news.goldseek.com/Zealllc/1560532953.php

Figure that one out. Either one of the two is lying, or both are good to hold with what’s been going on, trying to happen naturally, that TPTB are trying to avoid. A deflationary collapse. In a DEFLATION, money gains value. Gold and Dollars are money.

Stocks bonds and real estate, have gradually been used as a replacement of real “money” as Gold and Silver was weaned out as money after and since the 1913 Federal Reserve Act. So if the past 1913 to 2008 era is in reverse, things can get very interesting.

If stocks bonds and real estate (money replacement) start dropping in value, it would be like the 1929 crash when millions of people lost money that was not FDIC insured.

US Dollar, 3 days up with Gold:

https://finviz.com/futures_charts.ashx?t=CURRENCIES&p=d1

Gold:

https://finviz.com/futures_charts.ashx?t=METALS&p=d1

Is that a recent photo? If it is congratulations.

What will the price of gold be by the end of June?

$1340-$1350 (22%, 10 Votes)

over $1360 (22%, 10 Votes)

Under $1280 (11%, 5 Votes)

$1280-$1290 (9%, 4 Votes)

$1300-$1310 (7%, 3 Votes)

$1320-$1330 (7%, 3 Votes)

$1330-$1340 (7%, 3 Votes)

$1350-$1360 (7%, 3 Votes)

$1290-$1300 (4%, 2 Votes)

$1310-$1320 (4%, 2 Votes)

Total Voters: 45

But that’s just too bad…if gold can recover and end the day near the highs or beyond, then we will really know if the buyer interest is strong enough to overpower the fixers…if it isn’t then we’ll know that gold isn’t ready…

IPSO FACTO is right and this is a great sign…the crimex crimminals may have sold the futures but the buyers of PM paper aren’t selling…prices are at or near the highs of the day…

ALSO stocks are finally starting to roll over…if they fall hard, then gold will still be in play for today…finally, after being up a lot even on days the DOW was down, the trannies are down 93

https://finance.yahoo.com/quote/%5EDJT?ltr=1

Oh the humanity!