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Gene Arensberg: Gold longs weren't stampeded as likely was expected last week

Section: Daily Dispatches

11:28a ET Saturday, July 19, 2014

Dear Friend of GATA and Gold:

Last week's attack on gold in the futures market accomplished little dumping of long positions, the Got Gold Report's Gene Arensberg writes today.

"With the gold trade (producer/merchants) having so few hedges now, and the mercenary swap-selling banks so overly short, and now with managed money showing us all that they were not running for the hills last Monday and Tuesday but instead more or less held their ground for a fight, would anyone actually feel comfortable on the short side with all the geopolitical smoke in the air and with gold equities showing some spunk recently?"

Arensberg's commentary is headlined "Comex Large Trader Positioning for Gold Holds Surprises in July 15 Data" and it's posted at the Got Gold Report here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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