Gold's futures+options managed money net long position declined by -36,192 contracts or -43.82% during the week ending Tuesday, February 13th, down to only 46,400 contracts.
A decline of -36,192 contracts is the 32nd largest weekly decline in history.
Over the last eleven weeks, gold's futures+options managed money net long position has declined by -67.87%.
Despite gold's futures+options managed money net long position declining to its lowest 20.6 percentile in all of recorded history, gold only dipped below $2,000 per oz for two whole days, yet this caused everybody to panic sell their gold stocks at an extreme low.
Gold's futures+options managed money net long position has historically been higher than 46,400 contracts 79.4% of the time!
Gold has finished a total of 43 weeks at a price of between $1,940-$2,070 per oz.
Gold's median futures+options managed money net long position at a gold price of between $1,940-$2,070 per oz has been 114,165 contracts or 2.46X higher than today!
For a gold price of between $1,940-$2,070 per oz a futures+options managed money net long position of only 46,400 contracts is the lowest in history and 3 standard deviations below average!
This is the #1 most bullish setup that gold has had in history! The supply of gold is so tight that any small amount of gold futures buying/short covering will send gold exploding past $2,100 per oz and onto much higher new all-time highs in the upcoming weeks! Bottom line is shares of Augusta Gold (TSX: G) could soon rise significantly in value!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA's President has purchased 224,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.
Preparing Americans for Hyperinflation
