... The forces are gathering, going to be some interesting skirmishes 'tween now & Oct... But I've no worries for me or mine, the laddie with the hammer just waiting to set PM's off once the paper market is dispensed with...
...Gold speculator and large futures traders sharply raised their gold bullish positions higher last week for a second consecutive week and pushed gold bets to a new highest level of the year, according to the latest Commitment of Traders (COT) data released on Friday...
...The non-commercial futures contracts of COMEX , traded by large speculators and hedge funds, totaled a net position of +279,862 contracts in the data reported through June 14th. A weekly change of +51,243 contracts from previous week’s total of +228,619 net contracts that was registered on June 7th...
...This net position of +279,862 contracts surpassed the previous yearly high level of +271,648 contracts that was recorded on May 3rd...
...The rise in the weekly net speculator positions (+51,243 net contracts) was due to a gain in the weekly bullish positions by +51,869 contracts that easily overtook the gain in the weekly bearish positions by just +626 contracts...
...In the commercial positions for gold on the week (hedgers or traders engaged in buying and selling for business purposes) increased their overall bearish positions to a net total position of -298,077 contracts through June 14th. This was a weekly change of -54,385 contracts from the total net position of -243,692 contracts on June 7th...
...Over the weekly reporting time-frame, from Tuesday June 7th to Tuesday June 14th, the price of the (GLD) Gold ETF (NYSE:GLD), which tracks the gold spot price, rose from approximately $118.82 to $122.77, according to ETF price data of the SPDR Gold Trust ETF (GLD).
