This Indicator Says the Price of Gold is Now Headed Above $1700

from King World News

This indicator says the price of gold is now headed above $1,700.

We are going to make this update short and simple. Jason Goepfert of SentimenTrader pointed out that while small speculators have been puking up long gold positions in the paper market, the “smart money” has been buying GLD (see chart below).

Spec positions in gold futures dropped 20% while GLD holdings rose

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