Gold's Current Buyer is a Monster

The Most Important Charts

Housekeeping: We will discuss at 2pm for Founders. A recording will be made available by tomorrow morning latest as well.

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Sections: (1028 words, 11 graphics)

1. Gold's Most Important Charts

2. Gold’s Biggest Buyer Ever?

   1. There is a buyer

   2. He is big enough to clear the dance floor

   3. He’s a physical player and likely not US based in origin

3. What next?

4. Gold and Silver CTA Activity via Goldman

5. Goldman’s Updated Price Targets

Gold's Most Important Charts

Arguably The Most Revealing Chart About Gold is this one

Chart Via @RBLAVA, Arrows GoldFix

Here is another for good measure

There are plenty more iterations that all say the same thing:

The directional divergence between OI and price, in combination with the relative steepness of the directional move (in and of itself as well as its relative starting point), further in combination with the relative positioning of the OI at start of said price move, and finally where the price itself is relative to its Directional move. ( To be clarified in discussion)

When combined with the CTA/CFTC data ( listed further down) which already corroborates what we’ve thought for a while now, the truth reveals itself. A monster is buying Gold.

Gold’s Biggest Buyer Ever?

For the past two months the Comex Open interest has seen a steady decline in bullish positioning. This tells us several things of import. Here are three of those.

1. There is a buyer

2. He is big enough to clear the dance floor

3. He’s a physical player and likely not US based in origin

1- There is a buyer

First, it tells us even at a cursory glance, the market is stabilizing near all time highs even as Managed Money positioning as measured by CFTC, CTA, and Open Interest data, (a traditionally bullish-positioned cohort), is almost non-existent.

• Open Interest is Near or at All Time Lows