After a few weeks of hot Spec cash rushing into Comex gold, price is swimming against the outgoing tide this week as that some of that same Spec cash heads for the exits. As every rally gets sold, it's very difficult to maintain any sort of bid higher.
But it is what it is and, frankly, it's rather remarkable that CDG is still above $1990 and within the range where a quick spike takes it back above $2000. As we've been discussing all week, Dec23 WTI crude is now back to where it was on October 6, yet CDG remains almost 10% higher. Some of that is recognition and front-running of...
