This Indicator Says The Price Of Gold Is Now Headed Above $1,700

This indicator says the price of gold is now headed above $1,700.
We are going to make this update short and simple.  Jason Goepfert of SentimenTrader pointed out that while small speculators have been puking up long gold positions in the paper market, the “smart money” has been buying Gold.Goepfert then pointed out that the median return for gold one year after a two week period of 20+ percent long gold speculator selling and 1+ percent increase in GLD buying was a staggering 34.3 percent!  That would put the price of gold over $1,700 if it were just to follow the median increase!  It will be very interesting to see if the pattern of aggressive price gains for gold unfolds once again.

King World News
10/21/2016