A welcome change of pace. The gaps between prints were some 50 to 80 cents. The bullish consensus was only 18 on Thursday night, with the world almost unanimously bearish about the price prospects for gold. It was only recently that I reported 10 out of 10 money gold analysts were bearish in the forecasts.
Demand is strong.
Supply is down. The gold price sinks like a submarine. It could be that the dollar is about to take a sudden beating. It is the buildup of these gold derivatives that is keeping down the gold price. That is clear from the data GATA has discovered.