Between January 25th and February 1st, when gold declined by $47 to $1,800 per oz, gold's managed money net long position declined by a shocking 50.76% in a single week! Gold's managed money net long position declined from 101,375 contracts down to 49,914 contracts, which is gold's lowest managed money net long position in over four months.
Despite it being one of the Top 1% largest weekly declines in gold's managed money net long position of all-time... gold successfully bottomed at a higher low! This is the most bullish sign imaginable... and gold's breakout in recent days is a sign that a massive rally is imminent!
Between December 14, 2021, and February 1, 2022, gold's managed money net long position declined by 21.29% from 63,417 contracts down to 49,914 contracts! During this same seven-week time period, gold prices increased by 1.29% from $1,777 per oz up to $1,800 per oz!
North Peak Resources (TSXV: NPR) is about to become the #1 largest gaining gold play in the entire market!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA's President has purchased 201,000 shares of NPR in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.