"Gold may be overbought, but who's going to sell?" | Market Rundown

CTA Silver Short Cycle Starts Again

Housekeeping: Active Traders  podcast/Report will be out shortly.. if it isn't already

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Today:

1. Market Rundown.

2. Also: Gold, Silver, Oil via GS, BOA, TD

1- Market Rundown:

Good morning. The Dollar is up 45 post higher inflationary data. Stocks are mostly down with Nasdaq weakest down 1%. Gold is down $4. Silver Fu. are down 13 cents. Oil is up $1.74 (Russia did it!) NG is up 7c. Grains are strong with Wheat up 3.3%. Crypto is weak with BTC down 1%…. Palladium is down 5%

Bottom line: The down move in stocks, crypto, and duration Goldman hinted at yesterday has started. Gold should get caught in this sell off if it continues.

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Gold and Silver Comment:

Today TD Bank asks: Gold may well still be overbought, but who's going to sell? Positioning for the top traders in Shanghai gold has pointed to notable liquidations over the past weeks, but the SHFE’s growing influence in gold length is now at subaverage levels relative to the last year. That said.. we know exactly who can and will eventually sell it. The same guys who sold Silver

SILVER SHORTS START TO ACCUMULATE

CONTINUES AT BOTTOM…

2- Also:

1. TD on Gold, BOA on China and base metals

2. GS on Oil (Brynne and VBL called that last week),

3. BOA looks at base metals from a China perspective, Jan Hedge funds, TD tracker

4. Hedge Funds, Macro,

Zen Moment:

VBL’s Ghost @Sorenthek