On July 12, 2017, after gold settled at $1,219.10 per oz, NIA sent out an alert entitled, "Gold Short Squeeze Could Be Imminent!" Gold's managed money short position had increased on July 12th to 95,724 contracts. NIA explained how this was gold's highest managed money short position since December 2015 when gold set its cyclical bear market bottom of $1,050 per oz. After finishing 2015 at $1,059.80 per oz with a managed money short position of 95,414 contracts, gold experienced a massive ten-week short squeeze that sent it soaring by $230.70 per oz to a March 11, 2016 high of $1,280.70 per oz.
NIA predicted on July 12, 2017 that a similar short-term short squeeze was imminent. Since NIA's July 12th alert, gold has experienced one of its largest short squeezes of all time with gold's managed money short position declining from an 18-month high of 95,724 contracts to a new 58-month low of only 13,075 contracts! A shocking 86.34% of gold's managed money short position has covered and this has caused gold to explode by $128.90 per oz to a current price today of $1,348 per oz! Click here to see for yourself!
At the time of NIA's July 12th alert, gold's managed money net long position was down to an 18-month low of 27,100 contracts. NIA said that it was much more likely to increase from that level than decline. NIA predicted that an increase in gold's managed money net long position back up to 120,000+ contracts would cause it to surpass its key breakout point of $1,295 per oz and explode very rapidly towards $1,400 per oz.
NIA was right! Since NIA's July 12th alert, gold's managed money net long position has increased by 755.7% to a new 11-month high of 231,896 contracts. On Monday of last week, gold surpassed its key breakout point of $1,295 per oz and has since exploded by $53 per oz in five trading days to $1,348 per oz - already more than half way to $1,400 per oz! Check out NIA's exclusive must see gold charts by clicking here!
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