Monday, October 12, 2009

Gold COT (Oct 6)

Gold COT saw an expected jump in O/I of about 30k contracts; Net commercial short jumped while "speculators" took those contracts to the long side, with a large jump in small-trader positions, adding both longs and shorts (more of the former). Again, historically O/I is elevated but the COT structure can support a larger break if the USD and geo-political events remain gold-bullish.
Concentrated positions not making a big move...