CoT Report: Why are Gold Swap Dealers Not Very Active?

Irish Pensions Discover Gold

Housekeeping: Good afternoon. Bonus: Included at bottom is Gold as a Strategic (Irish) Asset. Don’t laugh.

After recommending Gold for Swiss Pensions, the WGC is recommending it to Ireland. This is now a mandated marketing trend and will work its way into the Eurobond market’s heart. Dominoes are starting to fall

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CoT Report: Bullion Bank Dealers are Not Very Active

Bank risk managers have put a leash on Bullion desk Principal Trading going into the BRICS/Election events. Gold is at ATH and they are already carrying short positions in the nosebleed level…. That’s not a sign (in and of itself) of capitulation. That’s a sign of risk managers putting leashes on unprofitable traders and/or those with too much risk on… and maybe a tiny bit of capitulation.