Kaylesdad
I don't think that it can be read either way.
My purpose in posting this analysis was to kill off the idea that there is going to be a squeeze in the gold market forcing prices higher.
Lots of gold investors don't understand what the futures market is used for. They have this fantasy that one day the huge short positions will be required to deliver pushing the price of gold up sharply, making them very rich very fast. It never happens, and every so often I take some time to walk the Gold Forum through a futures roll to explain why.
If you want to form a view on the direction of the price of gold, I recommend that you seek out aggregate production and consumption data. Do your own analysis and draw your own conclusions.
World Gold Council is a good place to start:
http://www.gold.org/reserve-asset-management/statistics
Post anything interesting that you find. I am always interested in new data.
Cheers and good luck
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December COMEX Gold Squeeze, page-11
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