50ftcat,
What you say about the commercial is 100% correct. However, you also have to keep in the equation that Gold is very heavily influenced by the USD and that if the USD has another big leg down it could cause Gold to go higher. This may or may not cause some players to cut back on their short positions, but as you pointed out, in most cases they can and will hold onto their positions until the market moves in their favour.
Thats why I feel they will trigger stops on the downside first and cut out the speculators before Gold heads higher again.
50ftcat,What you say about the commercial is 100% correct....
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