-commercials add 10,695 contracts long
-commercials cover 3,937 contracts
This is very very bullish for Gold.
-commercial cover 4503 contracts (so JPM is not adding to there gigantic short anymore) maybe if they raise margin 5 more times, they will be able to completely get out of it.
-commercials add added 2816 contracts long
Bullish here too.
And now in CFTC news: "Wetjen, whose nomination is subject to Senate confirmation, would replace Michael V. Dunn, a Democrat whose term expires June 19. The CFTC, which is writing derivatives regulations under the Dodd-Frank Act, currently has three Democrats including Chairman Gary Gensler and two Republican members.
Diversion or not, this isnt bad for us...I lean more towards good for implementation of position limits with this guy...but he will be paid off sooner than later from the Morgue anyway.
Its 25 and sunny here, I'm outy...more to come later.