112 days ago • Posted by Charles-Henry Monchau
Short covering on UST 30 year bond could lead to more upside on Gold
According to a report by Bloomberg Intelligence, Gold may get lift toward $2,000 from Hedge Funds big bond short. Indeed, record noncommercial U.S. bond future net-shorts represent elevated covering risks and the potential for gold to rally, if history is a guide. Similar extremes in 2018 marked the bottom at around $1,200 an ounce and fuel to breach key $1,400 resistance a few months later.