gold, page-19649

Surprised folks not complaining , cos when they dump paper gold we hear howls (which is the real gold...it's traded as a Commodity on the CME, whatever others might think gold "really" is...currency, value, store of wealth etc...) . If it wasn't why do people even pay attention to the "criminal bankster scum", the COT etc....? Tired of this toxic discussion.
Regardless....
As one who has traded CME gold years ago, I see it as follows:
Assume gold was at $1,145 / ozs at the time (could have been plus or minus a couple of dollars)
At this time:


A CME Futures Contract gives ownership of 100 ozs, hence Contract valued at $114,500.

$3.5B (notional value) of such Contracts = $3.5B / $114,500 = 30,567 Contracts...lets say 31,000 in round figures, to keep it simple (maybe 30K is even simpler...more probable actually...round number)

Price of GC Contact = USD 6,000 (used to be $4,800 until recently, guess they upped the ante due to volatility).


So amount spent : 31,000* $6,000 = $186,000,000
While this is a lot of money to the regular guy, it's not a lot to the big banks (aka "criminal bankster scum"). Small change. They can and do play it both ways. They make the markets, after all (hence Market Makers aka "criminal Bankster scrum", tho I don't hear any cries of "scum" in recent days as gold has risen a bit).
Of course ZH will publicize it, and why not...

Separately, looking at gold itself, 4 hour Chart. I've spoken here of "low / high resistance liquidity zones" (weird term, yes, not in your Mom's TA textbook, and no-one ever gave any feedback, ever, so am done with that, but it's part of how the instos and serious traders work in the real world), in this case the big red candle down, no BUYs, only SELLS with lots of (bear) stops ready to be sliced thru like a knife - very tradeable...very low resistance vs chop, congestion, traffic etc.......spoken of this many times. (I expect to see the reverse in the case of the daily February flagpole shooting up, in due course).
Of course anything can happen, even an imminent explosive move to $1,400 predicted here in June by others more experienced and more rewarded than me i.e. Heart....suspended an paroled Heart...my first pit stop is Resistance at 1,199 or so, but anyway, I prefer to wait for confirmation (of a reversal). I'm more conservative. So conservative, I even voted for D. Trump (despite being a Registered Democrat, which means nothing).

Interesting to see where the recent spike stopped in this (Asia) session (and started, for that matter,but not going there now) - there's a purple line there, and seems to be pulling back now, basically flat to red on the session.
Most interesting will, of course be what happens in LON and NY (Opens, especially, when, and where the big dogs play), if anything, given it's also the last trading session of the year there, as well, and people are already away, or going away . Thin trading lends itself to extra heavy manipulation Shiite.


Finally, looking at a stock I know very well, EVN, first held since Oct 2014 (not held currently), had recent quasi-exponential rise, like several gold stocks.

Interesting to see where it closed the week. It closed the week at Resistance, previously an old Support level (the DNA of price). Make a judgement, and then a decision, in the light of uncertainty. Where might it go next? Will it break through? Play the odds. Left as an exercise for the reader.

Good luck to all gold longs in the New Year.
EVN - WEEKLY