By John Rubino – Re-Blogged From Dollar Collapse
No need to mince words anymore. If the futures market still influences gold’s price, then that price is going to spike. And silver is better than gold.
Since January, gold futures speculators have been trending from extremely bullish to scared short. And in the week ending last Tuesday (the most recent data available) they appeared to capitulate, adding a massive number of short positions while marginally cutting their longs. They’re now about as close to neutral as they’ve ever been. Based on the history of the past decade this is hugely bullish, since speculators tend to be wrong when they’re fully convinced they’re right.