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Saturday, January 5, 2013

Gold: 2013 Looks Like 2009, Which Looked Like 2005

I recall making the suggestion on that gold, following a similar setup displayed in 2005, would rally despite bearish expectations and a large negative net long position in 2009 (chart).  This suggestion came as the community frozen in fear from experts screaming double top struggled to find reasons to hold gold into 2011.

Expect history to repeat again in 2013.  2013 looks a lot like 2009, which looked a lot like 2005.  Screams of double top are coming and the community will once again struggle to find reason to hold gold into 2015.

Chart:  Gold London P.M Fixed and the Commercial Traders COT Futures and Options Net Long As A % of Open Interest


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