With a whooping 115,000 odd contracts traded on Commex o/night (23/1/2003) and settling $4 and bit dollars higher, gold (it appears to be) had never had it better (recent years).
But what of open interest?
It is rising with every dollar rise in gold. It now stands at just over 220,000 contracts.
While gold keeps its trend intact, stagnant or higher prices, good trading volumes, rising open interest, IT MAY BE SAFER to be long rather than short.
BUT BEWARE ... keep a close eye on open interest becasue it is this indicator that would break the longs ego or the shorts back.
Arhidas neither short or long gold or gold stocks except long AVO
