8 Jul 2014
Gold specs continue their short-covering - TDS
FXStreet (Bali) - The TDS FX Strategy Team reviews the latest CFTC Commitments of Traders Report on gold and silver for the week ending Wednesday, July 2nd, 2014.
Key Quotes
"Gold specs continued their short-covering, but longs also decided to take a stab at higher prices ahead of payrolls, as participants worried about a Fed behind the inflation curve."
"Silver specs have covered all of the recent month's short positions, while longs continued to build, taking net long positions to quite elevated levels, despite a lag in upward price movement; we view this move as unsustainable without a fundamental change and new spec money."
Key Quotes
"Gold specs continued their short-covering, but longs also decided to take a stab at higher prices ahead of payrolls, as participants worried about a Fed behind the inflation curve."
"Silver specs have covered all of the recent month's short positions, while longs continued to build, taking net long positions to quite elevated levels, despite a lag in upward price movement; we view this move as unsustainable without a fundamental change and new spec money."