Gold – the final bubble, page-128

The COT report is out and it is a doozy.
Commercials added a net 57,000 short Gold contracts as of the cut off day which is Tuesday.
They added a net 26,000 short contracts of Silver.
These numbers are huge and do not bode well for near term price level of Gold and Silver.
This is not the only bearish sign out there.
Option expiration date is Wednesday so I think that Gold will be at 1200 for that.
I would say extreme caution is required from then.
There is the odd time that the Commercials get done but it is rare.
It would probably take something significant from China to alter the path.