Wonger

10 minutes ago, 5huggy said:

The word "RATIONALISE" comes to my mind, following this thread!

That is 

Some are telling

THEMSELVES -

"RATIONAL LIES"!

😉🤣👍

Gold in GBP is lower than 2 months ago! 😉 

12 hours ago, sovereignsteve said:

when do those expire? ie when do you have to cash in your losses by?

you must have some open shorts at well below current prices.

Any contracts that expire get rolled into further months out, there are positions currently that are in loss and profit and stops are used on some but not all positions, the price is down $30 from the recent high at $1830, the bigger picture is that my target is $385, that is $1415 downside and an overall position that is $100 underwater is par of the course as I have a view and it will not change until substantial further continued upside occurs. Equity update is still long SPX target $3328-38 have lightened up a bit and will sell rest at $3328-38 area and go short. 

On 10/07/2020 at 22:15, Martin1983 said:

@Wonger I know nothing about these short positions you take I have googled a little bit but as gold keeps going up at the moment are you losing money daily? How does this work?

Trading Gold Futures, the most recent high was $1830 4 sessions ago, its currently $1813

Commercial 303,000 contracts net short, not much change this week, I expect next week will be a larger change

1 minute ago, TheApe said:

Whats lurk and slurp?

Please keep up 😁

3 minutes ago, dicker said:

When you say were, do you mean we are, or we were?

Best

Dicker

All three 

Very useful posts, in the meantime were shorting the Gold futures clean through $1800 today, are you preparing to lurk and slurp again? maybe not a good idea 😉  

6 minutes ago, TheApe said:

Wonger have you considered a hobby that might better you?

Have you considered posting why Gold will continue to rise in price, show us all your wisdom?

4 minutes ago, TheApe said:

Very first post, "it started today".

🤣

Months later, "by end of 2021".

Months later, are you sure? If so read again!

1 minute ago, TheApe said:

Serious question.

If gold crashes in 2032 is Wonger proven right?

No as I said by end of 2021 for all to see!

5 minutes ago, dicker said:

I think you win the award for the longest sentence on the forum.

Best

Dicker

If you think long contracts standing for delivery would stop the Commercial Banks dropping the price then keep watching, nice short sentence for you! 😁

On 08/07/2020 at 12:50, KRO said:

Not so fast Wonger

 

In the non-speculator category, the Swaps are more short than they were in July 2016 despite open interest being 71,372 contracts lower. The mark-to-market value is record net short at $36.6 billion. What has happened is the Producer/Merchants have cut their positions, presumably deciding that hedging mine output is less important in the current inflationary environment. Consequently, the bullion banks are bearing 71% of the short exposure.

The speculator category makes this more interesting still. At 138,555 net long, hedge funds are only 25,000 contracts longer than average, and compared with their bullishness in July 2016 have hardly got going. It is the other categories, Other Reported and Non-reported have taken 56% of the long side, and they are not behaving like skittish hedge funds at all. These include family offices, the ultra-wealthy and foreigners through Globex who are standing for delivery as a means of getting their hands on physical bullion —171 tonnes from the June contract alone.

Conclusion

Bullion banks are between a rock and a hard place. For years they’ve been playing the hedge funds as an angler hooks and plays a fish. That game has ceased and there is no easy way for them to get level. For the moment they are trying to put a lid on the price, but the cost has been rising open interest, and therefore rising mark-to-market positions.

The August active contract runs off the board at the end of this month and bullion banks are likely to be forced into large delivery volumes again. Furthermore, the exchange for delivery arbitrage facility between Comex and the LBMA is broken, allowing Comex premiums to London spot to go unchallenged.

It is increasingly possible the gold contract is evolving into deep crisis, and that force majeuremight have to be declared if, as seems increasingly inevitable, a wider banking crisis ensues.

 

---

https://www.goldmoney.com/research/goldmoney-insights/a-potential-crisis-in-comex-gold

 

My conclusion is that only a Gold vendor could try and spin a story that Commercial Banks being $36B short is bullish for the Gold price after what he has admitted happened previously when the same Commercial Banks were only $25B short, the truth is the Commercial Banks short position is much higher, therefore the drop will be much larger as those holding the other side of the trade are flushed out by the Commercial Banks, its inevitable and the higher the Gold price goes the more the Commercial Banks have added to these short positions, tick tock goes the clock and if Alasdair wants to purchase futures contracts, we will sell him all he wants, however I have a feeling he would not be keen to do so as a Gold Vendor 

6 hours ago, jultorsk said:

Entity. Sounds like "You-Know-Who" or "He-Who-Must-Not-Be-Named" 😬😜 

And I repeat the earlier comment... 

A note also re COT. If you go back and have a look at the 2015/16 bear really - you'll see COT was completely misleading - only specs were long initially.

COT is only a good indicator on trends. It is a contrarian indicator on inflections either in direction or sharp changes in price velocity - because producers are always looking for 'one step down' and specs 'one step up'.

Meanwhile...

 

At the top the Speculators are holding maximum long positions, hence Commercial maximum short, hint like right now!

1 minute ago, sovereignsteve said:

I'm beginning to think Wonger has a bet with a colleague; how many clicks he can get on this thread.

Its certainly more popular than the "Silver Price About To Plummet" thread I created before it plummeted😉

1 minute ago, Frenchie said:

Gold futures now at 1807 and $16 loss. Down down down !!!  

and $1808, you need to feed them when they are hungry as they are a fickle bunch 😉

Just now, Prophecy said:

That's gold just valued as an industrial metal.

Since when does the paper price of Gold relate to anything apart from Commercial Banks positions?

1 minute ago, TheApe said:

I wonder if we will see the all time dollar high soon. Getting close.

You will see 140

1 minute ago, TheApe said:

Gold still crashing, it just keeps going. 

How low can it go, no one knows.

$385 will suffice

3 minutes ago, Prophecy said:

Wonger's back. Let's see if there's a dip blip to slurp up some more at a discount

You can "slurp up" below the March 16th low soon😉

1 minute ago, mr-dead said:

only on a price pull back right

Lets hope it doesnt pull back $140 very quick then 😉  

1 minute ago, mr-dead said:

Simple answer is just like you and everyone else, I dont know.

If you could predicit commodity prices with any degree of accuracy you would be an extremely wealthy man and have far better things to do with your time other than lurk on this forum.

Yes I agree, that is why I do not intend to "lurk" as much as you 😉

and $1800, selling them everything they require, maybe we can get the Speculators 350,000 net long by today 

3 minutes ago, sovereignsteve said:

Well no actually. By Wonger's reasoning and his latest COT chart, it's been happening since week 1 February 2019 and gold is up $450 since then.

Why dont you explain what you mean for us all?

6 minutes ago, JunkBond said:

The word Touche springs to mind.

Yes I agree 😁

3 minutes ago, mr-dead said:

I did sell just over 10kg worth of physical gold

Good your also expecting a drop then 😉

Just now, mr-dead said:

You are talking "if's and buts" I am talking data, facts and reality.

So I'll ask again, simple question:

would anyone on this forum have made more money doing what you suggested in march or by doing the complete opposite?

 

You need to sell to realise the gains, is this part of your facts, data, reality? 

Shorting more Gold futures here $1791