- US Bank Gold Positions Explode By Highest Rate On Record; Short Positions Collapse!
by Tekoa Da Silva, http://bullmarketthinking.com/
In a fascinating reaffirmation of the fundamentals of the gold bull market, US Banks & Large Traders as defined by the CFTC as being, “commercially engaged in business activities hedged by use of the futures or option markets,” have quietly flipped from being tremendously short gold in late 2012, to now being tremendously long.
Furthermore, the speed of this change in positioning has occurred at the fastest rate since the data set began in mid-2000. As shown below, on a month over month basis, US Bank & Large Trader long positioning has increased dramatically, with short positions being covered at the greatest rate of speed ever recorded: (top of post)
Additionally, when looking at this trend from a “total-position” perspective, we see an even greater accumulated move being made on both the long and short sides. Short positioning by US Banks & Large Traders has been collapsing since the beginning of 2013, while long positions are being steadily accumulated: