The Gold Shuffle

Some pragmatism is necessary.

42
Fri, Jun 21, 2019 - 9:53am

It has been so long that you may have forgotten how bull markets in gold operate. Because The Banks will always fight us tick-for-tick, you must never expect a straight up move. Instead, Comex gold will always move up in stages.

We've referred to this before as two-steps-forward-and-one-step-back. This can be day-to-day or month-to-month but the pattern will always be there. Something like:

  • Gold rushes forward
  • Specs go move heavily long while Banks increase the open interest and get short
  • Momentum eventually slows
  • Price rolls over
  • ...

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