"Gold’s biggest backwardation since 1999 prompted a “corrective rally” and negative investor sentiment means the outlook is still bearish, according to Societe Generale SA."
There are plenty that would take the contrarian view and say if most investors are bearish, then most investors may already be underweight or short and that is bullish.
Poor quality article IMO.
I don't think the big money has a negative view. Why is gold in backwardation? Heavy buying.
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