Gold prices aggressively rejected the movement towards the upward trend that defined the epic rebound this year, says Daniel Ghald, senior strategist of TDS commodities.
Fast money shorts prepare the stage for a surprise increase
“The price action corroborates our opinion that the fast money has taken short positions, in line with our last reading of the macro fund positioning. This flow may have been hidden in the positioning data of the CFTC due to (1) the re-appliance of risk parity in recent weeks and (2) the ups and downs in the positioning of the CTAs, which darken the reading of the open interest.
“At the moment, the impulse of purchase that promoted the rebound of gold has decreased together with the distension in trade, but many catalysts are yet to come, several of which seem imminent: (1) increasing echoes of” Qe of the treasure “; (2) commercial archives; (3) resumption of cuts in interest rates, (4) an environment of stagflation, or (5) (5) (5) (5) (5) Central banks. Western money managers will be surprised. “
“The price action in Shanghai’s premium already suggests that the buyers of falls have resurfaced in the east. We continue arguing that the golden rebound is not about demand, it is about trust. We believe that we are in the midst of the third important change in the monetary order with surprising analogies to the 1970s. This positioning scenario is simply a symptom of this me.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
