The gold market is in a funk. And if you have an internet connection, you don’t need me to remind you.
The gold price can barely keep up to the $1,200 mark and the trend doesn’t look too friendly.
Managed money short positions continue to hit record bearish positions in the weekly commitment of trader’s reports. Below is a chart showing the current short position for non-commercial short speculators.
Investor sentiment is very low. According to data from SentimentTrader published last month… “Optimism on gold, silver, and platinum now ranks among the lowest in 27 years.”
Small exploration companies are looking to cash up on any market momentum.
And tax loss season this year could be the most brutal since 2012.