... One thing that is not widely known is that whilst the US domicile banks have until 01 Jan 2022 to be compliant, they must be compliant before hand if they intend doing any business with EU banks from June 29th and that includes the LBMA (London Bullion Bank). ....
The above is one great news i.e. implies overall paper gold will be reduced before 29th June. Perhaps one can deduce that weakness of GP will be ending soon. On this basis, the "CFTC gold speculative net positions" as shown below may drop more as 29th June approaches. If it does and then stabilises, then one can expect this will be turning point for gold price to pick up.
DCN Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
