Decoding the gold COT...

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Horia
Decoding the gold COT...

http://www.gold-eagle.com/article/decoding-gold-cots-myth-vs-reality

This is an interesting report. It basically
shows the basics of trading on the COMEX. You can
only agree with the author when he analyzes the COMEX.

But....is that all what it is ? Ie is the activity
of the speculators the ultimate driving force of
gold price ?

What about the other half of the world ?
http://therealasset.co.uk/blinkers-off-gold-experts/
The new paradigm is that the main driver of gold price
is the Chinese demand...which has not a lot to do with
the speculators on the COMEX.

Even within the Western half of the world, there is
such a thing as LBMA, with a volume 7.5 times higher
than COMEX.
http://www.amerigold.com/the_seer/index.php?content_id=61

What about the central banks and gold repatriation ?
It is well known that they buy gold.

What about the gold scarcity ?

If I were to use an analogy with chess, I would rather say
that the demand for gold is the STRATEGY while the activity
of the speculators is the TACTICS.

But tactics is always subordinate to strategy.

Ultimately the basic law of economics prevails:
demand and supply. Even the most skilled and well
equipped speculators can do nothing against it.

sjaden

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