The Phaserl


Large Speculators returning to Gold – but with this Caveat

from Dan Norcini:

Here is the latest chart detailing the relationship between the Hedge funds NET POSITIONING in the Comex gold market and the price of the actual metal.

Gold has been sinking in price because speculators were simply not interested in it when better returns on precious capital could be obtained elsewhere (in equities in particular). An ultra-low interest rate environment here in the US, with no signs whatsoever of any inflationary pressure, in which global commodity prices were sinking lower while the US Dollar was moving higher was simply one in which it did not favor any serious appreciation in the price of the yellow metal. There was nothing the least bit “conspiratorial” therefore about a falling gold price, an asset which throws of no yield or dividend whatsoever and requires storage fees, insurance, etc. when holding it in any size. In other words, it COSTS to store gold when such money could be better put to work producing actual returns in equities.

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2 comments to Large Speculators returning to Gold – but with this Caveat

  • randy0302

    Dan sees Gold Bugs as a cult, always has. A cult, distracted from God, by the shiny yellow metal. He attacks gold out of fear.
    He now says manipulation is silly because USDX is up? Wait what? He said no manipulation when USDX was 79 as well?
    Gold getting attention now because equities are down? Wait what? I thought commodities (oil)were down? But gold and Silver are up?
    if Gold and Silver are just commodities why are they up?
    Anyone talking about GLD isn’t discussing gold. Why would anyone buy GLD? Its paper not gold.
    Dan is a trader but doesn’t understand the monetary system.

  • aa

    You would think a man like Dan who quotes the Bible and extols righteousness would respect gold and silver since during Bible times and throughout most of human history gold and silver were honest money that completely protected the individual against theft through inflation due to the corrupt fiat currencies of governments and bankers. Yet Dan continually bashes gold and silver which places him on the side of the very people he allegedly despises. Dan appears to be completely oblivious to the lessons of the Bible regarding the corrupt nature of mankind, especially those in power who are almost always the most vicious and unprincipled. Why he thinks power brokers in high places don’t manipulate the prices of gold and silver to their advantage is beyond me. How can he be so completely naive and blind to the machinations of this most wicked group of men?

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