A quick swing in the CoT reports forecasts a near term gold pullback
Craig Hemke, Founder of TF Metals Report pays very close attention to the Commitment of Traders report for the metals. It was less than 1 year ago that we were talking about how the “dumb money”, specs, had moved short. This was a sign that gold was due to bounce – which it did. Now the specs are close to historic long level. We discuss this change in the CoT report and how the upcoming Fed meeting is driving the moves in gold.
Click here to visit Craig’s site and follow along with his metals commentary.