watch this!, page-42

mja, thanx for the post mate. Correct me if I am wrong but it is my personal observation that open interest has been rising with each subsequent new high in gold, along with Commercials short positions.
That tells me that the Commercials whilst wining the odd battle are in fact losing the war as they have to keep increasing their postions to keep a cap on the price and that tallies with your observation that the commercials are becoming less influential in regard to the gold price.

So, one must ask the question at what point they become overwhelmed, because that time will eventually come just as it did back in the '70's.

Once again thanx for the info, very interesting stuff

Cheers