Goldman's CTA Analysis Translated
BOA included
Regardless, Banks are very short both commodities now; and while we do not think they are in danger as entities, some of the individual traders might be getting a little nervous; especially with less producer hedging to help them out.
Comment
Goldman CTA Analysis broken down (theirs is the best of the gang)
BOA CTA analysis accurate, not as many graphics
Comment:
CTAs did not move Gold. Therefore they will not be the ones selling it if we break hard lower initially. But they will be buying it if we break higher.