With the ongoing war in gold continuing near the key $1,370 level, today the man who provides macro research and commentary to many of the largest financial institutions and top hedge funds around the world sent KWN 10 absolutely stunning charts, which included gold, and other incredibly key markets. Eric Pomboy, who is founder of Meridian Macro Research, also provided powerful commentary to go along with the 10 remarkable charts, as well as what all of this means for these key markets, including gold.
By Eric Pomboy Meridian Macro Research
August 21 (King World News) - Gold Battle Near Key $1,370 Level - Charts Of The Day
Taking a look at the Gold relative to Net Commercial position chart, we find that the 22% bounce (same for 2005, 2008 bottoms) we highlighted late in July has resulted in a full snap-back into the (bullish) trend line. As such, we should not be more than a week or so away from some sustained moves higher for both gold and silver. ...