December 4, 2017

Gold prices are trading $1,273.50/oz., down $7.00.  Friday, following Michael Flynn’ guilty plea, gold prices jumped $1,289.50 before retracing as the odds increased that the tax bill would clear the Senate (which it did late Friday night).  The Managed Money (hedge funds, speculators) net long Comex gold futures position expanded to 198K as of November 28, as large as it has been since October 2016.