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22 Apr 2014
Gold specs shifted to shorts - TDS
FXStreet (Bali) - Bart Melek, Head of Commodity Strategy at TD Securities, shared a summary of the CFTC positioning change in the metals market for the week ending April 15.
Key Quotes
"Gold specs shifted to short positions as Russia/Ukrainian tensions were pushed to the backburner, negative Shanghai premiums remain, and technicals look weak—plenty of room for additional shorts to jump back in below the 100dma."
"Silver specs added more to the short side, bringing their negative sentiment to near peak levels once again—option-related positioning also suggests further downside expected (along with higher vols)."
Key Quotes
"Gold specs shifted to short positions as Russia/Ukrainian tensions were pushed to the backburner, negative Shanghai premiums remain, and technicals look weak—plenty of room for additional shorts to jump back in below the 100dma."
"Silver specs added more to the short side, bringing their negative sentiment to near peak levels once again—option-related positioning also suggests further downside expected (along with higher vols)."