Hedge Funds Dump Gold Longs By The Most On Record

Tyler Durden's picture

Hedge funds dumped almost $6 billion notional in gold futures last week.

That is the largest drop in hedge fund longs in the history of CFTC data.. and the precious metal has stabilized since.

While this is the largest drop on record, there were three other weeks when this approximate selling level was achieved and here is what happened next... 3/6/07 (+9.6%), 3/6/12 (+3.25%), 5/24/16 (+14.6%).

One wonders what happens next?

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Raffie's picture

Ok move gold up $1 then crush it to the $900 range...

Gotta love gold ol hindsight.





remain calm's picture

That's a weird headline because Stanley Drunkenmiller just said GOLD is his largest cash position ever. Weird, because nobody reported that. Hmmm.

giovanni_f's picture

it is the large gold speculating hedge fund assholes and the overpaid mining company ceo dumb asses who keep on buying and selling, respectively, from and to the slumlords from the paper gold casino. It is these dorks - not the bullion banks or the BIS - who are giving full legitimacy to the paper gold construction. Without paper longs and miners selling at casino conditions there would be no "evil" manipulation possible. No idea if GATA gets it that when it comes to precious metals the victims are craving for being raped. It is probably only the mining ceo's who are delighted contributrs to a system that directly afflicts damage to them by price-suppressing their one and only product. One exception is Keith Neumeier from First Majestic but he is a lonely (albeit successful) fighter.

And no GATA, it is not the bad bullion banks, it is the victims that contribute to the paper scam more than the evil manipulators.

Hurfenurbler's picture

The linked article says "In contrast, an investor who purchased $10,000 worth of gold in 2010 would have experienced a negative return of $9,981."

Hilarious.  How can you believe anything in the article when it says something as wrong as that?

Davidduke2000's picture

They count the money you did not make as a loss. 

Kaiser Sousa's picture

checked in with my PHYSICAL Gold Maple Leafs,Libertads, and Eagles over the weekend...

they said "dont worry Kaiser...we're not like PAPER Gold and we will never leave you..."


Davidduke2000's picture

Gold is at $1750 CND, for Canadians,  people with gold kept their wealth and laughing at the rest because the bullions are not taxable, while people trading futures are taxed.

Bopper09's picture

Why compare an ounce of gold to a failing fraudulent fiat currency?

NoWayJose's picture

Obviously 'someone' was selling last week -- whether they actually owned either paper gold or phyzz is another matter...

Anarchyteez's picture


Sit tight, n be right.

youngman's picture

and about a month ago Goldman Sachs said it was going down to 1200...and they took it thtere

CultiVader's picture

Hold! Hooooolllld! Hhhhooooooollllllllld!

bookofenoch's picture

Some central bankster.org disgorged imaginary gold digits. Guess that means all is right with the world & time to buy Snapchat

jpot34's picture

GOLD/SILVER phyzz, baby!!!!!  I have the time, do you?    :>))

Davidduke2000's picture

the magic word is gold futures, paper gold is not real gold because nobody in his right mind would sell bullion, there are buyers waiting to pay premiums to get gold by the tons. 

ali-ali-al-qomfri's picture

whenever some one dumps some gold longs, the lavs get backed up.