Sunday Discussion: Overbought, Not Overdone

Housekeeping: The Conversation with Bai will be posted tomorrow. Good Luck.

Topics:

1. Rollover mechanics

2. Overbought.. but buying not done

3. CFTC Analysis

4. OI analysis vs overbought

5. DB,TD, BOA coverage

What the Situation Looks Like after a Golden Cross and a new ATH after a monthly ATH close.

1. US Gold pricing and behavior is business as usual. Banks are not afraid to sell it.

2. Therefore treat it like a “trade” not an event Why? This is gold and in a pinch, physical can be easily sourced.. HOWEVER…. ( and this is goofy)

3. China Gold pricing and behavior is NOT business as usual