Hedge funds dumped almost $6 billion notional in gold futures last week.
That is the largest drop in hedge fund longs in the history of CFTC data.. and the precious metal has stabilized since.
While this is the largest drop on record, there were three other weeks when this approximate selling level was achieved and here is what happened next… 3/6/07 (+9.6%), 3/6/12 (+3.25%), 5/24/16 (+14.6%).
One wonders what happens next?
via http://ift.tt/2qlcPJS Tyler Durden