gold comment week ending 21-feb
With open interest declining to about 197k from about 216k, in a week that saw gold close marginally lower and most importantly holding on a close basis the $350/oz level
gold's prospects may have improved but one would have to wait for Tuesday's CFTC's COT report.
In the meantime, as long as gold holds the $350/oz level or there abouts might be good for longs.
Sustain breaks below this level is simply no good.
Judging by the gold equities thumbing, leaning towards the latter.
Arhidas Neither short or long gold or gold equities
