Gold Bears Pull $20.8 Billion as BlackRock Says Buy
It is either the stupidest emotional trading I have ever seen or Dimon told him something we do not know
Gold tradings hard, but not rocket science
he should of got himself over to FX TSD and got some of Mladens and Mr Tools indis
the mind boggles as to how useless he and his team are, especially with so much money at there disposal
just for the record (and not to blow my own trumpet too much)
but i called the bottom in advance on here and on T2W
not 100% as i called 1420 and 1330 as two very likely levels
and stopped at 1321 approx
so it can be done,
maybe i should give Mr Paulson a ring and see if he needs any help 
as to buying it very likely is or was quite a good time to buy - but would nt rule out a double bottom shakeout to below the last bottom
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Hedge funds increased bets on lower gold prices after investors pulled a record $20.8 billion from bullion funds this year while BlackRock Inc. (BLK), the world’s biggest money manager, said it’s still bullish.
Speculators held 67,374 so-called short contracts on May 7, 6.4 percent more than a week earlier, U.S. Commodity Futures Trading Commission data show. The net-long position dropped 10 percent to 49,260 futures and options. Net-bullish wagers across 18 U.S.-traded raw materials climbed 5.8 percent to 582,265, with gains for cocoa, cotton and hogs.
Gold is having its worst start to a year since 1982 after dropping 14 percent and sliding into a bear market in April. Holdings in exchange-traded funds backed by bullion tumbled to the lowest since July 2011 even as central banks print money on an unprecedented scale to boost growth. BlackRock’s President Robert Kapito said May 9 he would still buy the metal, echoing billionaire John Paulson, who’s sticking with a bullish view even after losing 27 percent in his Gold Fund last month.
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