COMEX gold futures ends the week above $1400.00.
Looking at the COT report, Da Boyz (Commercial Banks), as of Tuesday had gone extremely "short"!
Yikes there will be some very unhappy people this weekend who work the trading desk.
I imagine that part of this rise is a "short squeeze" of huge proportions. Finally, the bankers got a taste of their own medicine.
But this does bring up a rather interesting issue, what happens when these folks fail?
I don't know but it could get ugly. In the mean time enjoy the extra jingle that the stack brings!
Peace out and stack on!