Putting Tuesday Behind Us

Tue, Jul 27, 2021 - 10:39am

Since last week, we've been warning that the price of Comex gold was likely going to stuck in the mud near $1800 until option expiration day...which is finally today. So, let's put this behind us and begin to look forward to the remainder of the week and next month.

Again, we're not splitting atoms here. One look at the calendar and then another at the put/call open interest made it very clear a week ago that the Bank sweet spot target was $1800. All rallies since have been smashed backward, regardless of the bond market or POSX. As noted last week, here's a simplified...

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