>>20520899open interest in gold is near all time lows. Wherever gold is being traded, it's not in the Western futures markets. I personally think gold may be at or near a local bottom. ETF gold holdings seem to be beginning an uptrend now after being in a more or less constant dishoarding spree since 2020 which indicates to me that the bull has not run its course yet. I'm not buying into the bearish narrative here at all, and contrary to popular opinion I don't think gold has to retrace from here either.
>>20520917oil will remain weak as long as refinery margins and refined products remain weak.
>>20520884seems to be retesting that $860 mark. Let's see where it goes.
>>20520943around $4.50 seems like a pretty strong area to me but could pull back more of course
