Gold Primed for November Rally(Quote)

金一招

According to the most recent commitment of traders report, the gunslingers - the small speculators that are usually on the wrong side of the market - actually shorted 1,315 gold futures contracts and liquidated 3,894 contracts while the commercials initiated 1,213 new long positions and covered 1,416 short positions. The dumb money is showing us once again why its earned its reputation.
A close above 600 will make gold close above its resistance downtrend line that has held it down since last May and should lead to a quick move up to at least the 646 level, and most likely to 665 by Thanksgiving.