GOLD - COT (2016.11.06)

FX_IDC:XAUUSD   Gold Spot / U.S. Dollar
7436 104 66
I have to post the COT again because I see a few beginner traders are starting to misunderstand these numbers again. The COT is not bearish at all yet.
The Commitment of Traders report ( COT ) is published at the close of every Friday's trade and it always shows the Tuesday COT data. The formula for Blees rating uses the Commercial Traders net contract holdings at the date of the current COT report. We inserted the Blees rating into the daily chart .
Source :

The large speculators long contracts are increasing for the 3rd week : 274k->285k->288k (sum:+14k)
The large speculators short contracts are decreasing for the 3rd week : 95k->88k->73k (sum:-22k )
So the large speculator net short position decreased by : 36k.

The commercial net short position increased by (203k->217k->239k) 36k during the last 3 weeks.
So actually nothing happened. A few large speculators gave 36k contracts to the commercials.
It seems to me commercials are not in a big hurry to open shorts before the elections.

The commercial net short position needs to be above 300k and I even think closer to 400k before a decline can start... Also the blees should be between 10 and 0 when we start to fall. With blees 30 we can rally even 100$...

I think we are going to test at least 1343-1350 next week.

..and Trump is gaining momentum, the U.S. presidential race continues to tighten. By Tuesday it will be 50-50%.

Comment: 99% of the cases gold is filling the gaps.
Comment: In the next hours...
Comment: Watch the EurUsd : it has already closed its gap. It's leading DXY now - so DXY will continue its fall soon.
Comment: Bjorn, let me guess : You are long now from 1279 just forgot to share with us.
Comment: Now it's obvious that this election going to be very tight. So get ready that gold will bounce off its HCL finally.
Comment: BOOM
Comment: BOOM - This is for you bjorn.
Comment: Told you this is going to be a 2nd Brexit event.
@gandonian11 was almost there for this was
It's over. The markets and gold have called it. I told my children, it's either a Trump landslide, or it's Clinton, (as a close vote would have been stolen by Clinton). The markets have spoken. US Futures DOWN 4 to 5%. Just like Brexit. Be prepared to BUY US Markets (or go bullish on options). The sun will still come up Wednesday and Thursday. By Friday, you'll be glad you bought Wednesday!

Next up - French and German elections with side shows in Italy and other EU exits.
Where's Bjorn?? I wanna hold his hand.
babak_eng Nightstar
hahahahaha Bjorn is the next big trader hahahahahaha I Love this guy what a clown
bracken babak_eng
Björn is a common name in the Scandinavian contries and it means bear. I guess our dutch bear Bjorn has got in hibernation, winter and all comming (To be in a dormant or torpid state during a cold period, especially during the winter)
BjornPfaff babak_eng
Youve got to love me , as i predicted golds move , instead of Arpi who was long from 1300 :-))) you all are so Hila
BjornPfaff Nightstar
Hold my hand ? Why ? i was long from 1269.93 my friend ! On the bottom ! look to my previous posts , no one does fool me my friend , no one ;-)
2use BjornPfaff
@BjornPfaff, I could not find any chart on your profile? Was about to follow - did you post anywhere else?
kidbroge BjornPfaff
@BjornPfaff, your snark is awesome, it's turning into a comedy routine. Very entertaining.
BjornPfaff kidbroge
@kidbroge, As long as you guys believe Arpi, it will be very entertaining for me to see people like you get burned :))) But hey, what do you expect ;-)
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