General Public now Net Short in Gold

For the first time since the gold bull market began back in 2001, the general public, the small specs, are now NET SHORT in the gold futures market.

It would seem as if they are now intent on chasing equities higher expecting to get better returns on investment than in gold.

Here is the chart containing this week's data where I have separated out only the small specs.

 

 

I will detail the overall COT in more depth later. In addition, I covered it somewhat in the KWN Metals Wrap segment for this week so look for that when it is released Saturday AM.

By the way, the SPREADS in gold were greatly reduced this week which we anticipated would occur once gold stabilized and lost some of its excessive volatility.