The Invisible Hand Is Regaining Control of Gold

The invisible hand continues to lean on every short term gold rally. I know this the last thing that the dejected community wants to read, but it is what it is. The gold lease spread composite will turn from negative to positive when it's done leaning.

Table: Gold Lease Spread Composite (GLSC) and Gold Price, USD

Smart money knows we're close. Gold's diffusion index remains above 60% and spreading activity at 79% continues to surge. This concentrated setup illustrated by the red circles below is extremely rare.

Chart: Gold London PM Fixed and Gold Diffusion Index (DI) & Noncommercial Spreading Activity (SA)

Source: Prop desk

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