- Gold Trading | June 22, 2016
Large speculators have been stocking up on gold futures at a record pace & the gold miners are selling all the forward production they can lock in above $1,220. This could lead to quite the washout as speculators are forced to take losses under $1,280. Commercial trader position is at just over half its record. There really aren’t any speculators left to buy & so odds favor the shorts.