After the spectacular run from the lows of early July, gold and silver took a breather this week. Bullion markets on Comex had become very overbought, so a pause was inevitable, and healthy. In early European trading this morning, gold is down $23 from last Friday’s close at $1325, and silver off 25 cents at $17.71.
Our next chart illustrates how overbought gold had become, with the Managed Money category net longs on Comex (hedge funds) having soared.
This post was published at GoldMoney on September 15, 2017.
Follow on Twitter
Recent Comments