The latest tweets from Fred Hickey on gold

Twitter/Fred Hickey/9-24-2022

“This Western investor derivatives shorting clearly is not sustainable (especially with strong Eastern physical gold buying and widening premiums) & eventually the futures traders will be forced to cover their shorts, leading to a massive rally in gold. Could happen at any time. While there have been steady outflows from the GLD ETF during this gold selloff, the daily declines have been relatively light. Not much long futures selling either. Gold’s declines have been driven primarily by Western trader shorting, meanwhile, the East continues to accumulate. The Managed Money (MM) net short position is also the highest since the (record high) in 2018-2019 from whence gold soared from around $1180 to 2060 over the next 2 yrs.”

USAGOLD note: Hickey is the editor of High Tech Strategist and a widely followed markets analyst with a soft spot for gold. We thought this quick overview worth passing along – especially for our newcomers.

The post Today’s top gold news & opinion first appeared on Today’s top gold news and opinion.

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