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Gold Shorts Plunge To 5-Year Lows

Courtesy of ZeroHedge. View original post here.

Despite the record highs in stocks (and consumer confidence), a 'resurgent' economy, tax reforms, rate-hikes, and deregulation; traders are adamantly opposed to shorting precious metals

As Bloomberg points out, hedge funds and other large speculators pared their bearish position on bullion futures and options to a five-year low last week, driven in part by looming geopolitical risks from North Korea and the U.S.

For those who suspect 'manipulation' in gold prices, a glance at the total capitulation of speculative gold short positions (compared to the 'unch' nature of spot gold prices) in the last few months provides some food for thought.

While gold prices have shown signs of fatigue, falling for a second straight week, the metal rose Friday as turmoil in Washington boosted its appeal as a haven… only to fall back overnight as ABC's fake news was exposed…


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