Eagle
"If the market though is strong and Gold can hold above 720 then we may see the shorts scramble to Buy Gold if it starts to move higher above 750"
The commercials (who are currently extremely short) are the producers (miners) so in general they would not need to "scramble to buy gold" to cover.
Their shorts are more like a hedge at a price that they deam (theoretically) to be the current equilibrium price between supply & demand.
& who should know better, the producers who know exactly what the supply side of the equation is & who also directly interface with the demand side, or some Wall Street speculators?
Eagle"If the market though is strong and Gold can hold above 720...
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Last
$64.69 |
Change
0.850(1.33%) |
Mkt cap ! $12.54B | |||
| Open | High | Low | Value | Volume |
| $64.52 | $64.75 | $64.14 | $11.35M | 175.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8 | $64.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $64.69 | 5 | 1 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| ASX (ASX) Chart |