Hi Tom: an interesting piece from Kaplans site.............
COMMENTS OF THE DAY: Commodities were moderately lower on Monday, while precious metals ended mixed. Gold fell eighty cents, silver dropped four cents, platinum rallied $10.40, and palladium surged nine dollars. The traders' commitments for gold, including recent open interest data, are roughly equivalent to what they were in the third week of January when the price of the yellow metal was four percent lower than it is now. Therefore, commercials have "stepped up" their bullish buying behavior at a higher price level for the first time since early 1993, the classic signal for the earliest stages of a bull market. Of course, if U.S. equities continue to be strong, this will distract attention from alternative investments such as gold, which will delay but certainly not prevent this rally. |
