Hi Ourlady, looks like "they" have lost their shorts already,...

Hi Ourlady,
looks like "they" have lost their shorts already, unless they can pull a new lever or something. Other things being equal, from over the last 2 years, commercials net short position is increasing as GC1 rises. In attached chart, purple straight line fits the least net short position (COT data in blue, with linear trend as purple arrow) the commercials have been able to achieve during their GC1 smackdowns. Not a perfect straightline, but convincing enough? (NB, large commercials and large Specs lines are translated wrt each other, for compactness). In contrast, the lowest gold price (candles) they have achieved over the last 2 years shows a steady increase from end 2015 to present (red arrow). Extrapolating to end of 2018 (assuming the mechanics of what they do remains the same), minimum GC1 price is a little under USD 1400 /oz. That's minimum price they can achieve, with peaks they don't want being quite a bit higher than 1400. Just trends, for what this its worth... Cheers, S...