Tommy Humphreys | Jun 01, 2014 12:07AM ET
We’re all well aware of the bearish summer seasonality (June and July) for the precious metals sector. However, there are suddenly a few reasons to believe that this summer will break the mold of what investors have become accustomed to:
Last week’s gold futures Commitments of Traders report is easily the most bullish report of the past year
Tuesday’s large decline appears to have been led by large speculators (hedge funds) establishing short positions while small traders (trend followers) initiated new bearish bets as the gold price broke support near $1275.
The herd will call you crazy, but it might be time to get ready for a summer rally in the major gold producers. Stay tuned…
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