Seems these folks have a bad case of “SQUIRREL!!!”Wasn’t it just a few weeks ago the news headlines were about folks dumping gold, and GLD taking a big hit. Now it comes out that they’re diving back in. The chart showing the changes in positioning looks a map of US popular news sentiment during the presidential election. Big ups followed almost immediately by big downs... And all the while not a lot has changed in the big picture, so it’s most probably just humans thrashing about.
The equity markets have continued their slow rise, and gold has gone mostly sideways while we wait for the next catalyst to set it off. Today’s highlighted article shows the aforementioned chart of money managers and their gold market entries and exits. If you see anything other than a good example of randomness in the chart, well, you have either an enhanced pattern recognition mind, or maybe it’s time for that therapy you’ve been thinking about… haha!