Gold Man! Net-shorts In Gold Futures/Options Largest Since 2006 (But Will It Continue After Last Week’s Bloodbath In Equities?)

Too bad Black Sabbath didn’t sing Gold Man.

Hedge funds and other large speculators increased their net-short position in gold futures and options in the week ended Oct. 9 to the most in data going back to 2006, surpassing a record reached last month, according to a government report released Friday. The wagers came days before turmoil in equity markets sent investors flocking back to the metal, pushing prices to the biggest gain since 2016 on Thursday after six straight monthly losses.

thebiggoldshort

Let’s see if gold shorts continue with the reversal of fortune in the S&P 500 index and gold.

goldspx.png

 

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