Commercials like wise covered and the open interest has increased nicely. Gold will benefit from some Bitcoin Ethereum spill over. the four house chart
is very supportive. A sell off that was expected was contained and response so far today has been very . low today in the August contract at the 1262
level. 137,000 contracts traded so far today at 12:55 eastern time. August now at 1272.0 big move past resistance at high 1260's. If we hold 1270 at the New close
I see a test of 1275-1280 within a few days. Gold going higher.
solid support at 1266. then at 1269.00. As I type this big struggle at
the 1270 hurdle. Now backed off at 1269.40. Considering the price action
today I remain bullish. The ADP # failed to stop gold in it's tracks.
The 1235 put was most active 4525 contracts, put buyers thinking NFP are
going to be huge, put sellers not worried. I wouldn't be surprised to see a selloff
of 10$ tomorrow at 8:30 but I think we will quickly rebound.