The Most Bullish Gold CoT Report in Recent History

Today’s CoT gold report is clearly the most bullish report in recent memory:

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Gold_COT_4.26

The small speculator net long position has completely evaporated and even using the “futures & options combined” net positioning, small speculators are at their lowest net long positioning in over a decade. It is important to remember that commercials have an overwhelming tendency to be net short, whereas, speculators (particularly small specs) have a strong tendency to be positioned long.

This CoT report is quite significant because it clearly illustrates that the fast/dumb money small spec crowd has put on a sizable short bet in gold in recent weeks AFTER the gold price had tumbled over $200. The recent bounce in gold (and other precious metals) is likely partially due to the market turning up the heat on these “late bears”, but there is almost certainly more to come. As I wrote yesterday, gold bulls should be looking for a continued steady march higher – today’s pullback after a $160 rally is part of the process.

  • RUSS SMITH, CALIFORNIA

    Hi!, Patrons Of CEO CA ET Al:
    The truest perspective is given US by Thomas Edison who once quipped: “Not one person on this planet knows even 1 millionth of 1% about anything!” History supports him doesn’t it but still the opinionated continue to thrust forward their ambiguities daily! In the meantime 1 millionth of 1% doesnt provide anyone much guidance but only continuing grounds for hope of which you have your hopes and I have mine?
    RUSS SMITH, CA. (One Of Our Broke Fiat Money States)
    resmith@wcisp.com

    • http://www.facebook.com/people/Bud-Wood/100000047885420 Bud Wood

      Russ:

      Be a person of action. Move from California. I did 25 years ago. I regretted it only because I didn’t participate in the great house price run up (but maybe broke even with no state income tax). You did, and now you can get out while you still have your skin.

      Both income and sales tax? NV has only sales tax (and it’s less than CA). Ditto WA, TX, etc. – - – and AK has neither.

      • Thad Thurston Thistlethwaite

        You don’t surf, do you?

  • therooster

    gold in now money …. in real-time

  • newsens

    No matter what happens, gold is always bullish – or extremely bullish. Never bearish.

  • http://www.facebook.com/people/Omario-Rosario/1470759310 Omario Rosario

    can anything coming from a source proudly displaying 3 pyramids be credible ?