The fall in gold has been accompanied with net-long exposure to gold futures falling for four consecutive weeks. Gross shorts among large speculators have risen to their most bearish level since late February and gross longs to their least bullish since mid February. Spot gold prices traded briefly below 1800 last week and it remains a key level to monitor, as a break beneath it invalidates the trend support level from the March 2020 low. Copper futures fell to their lowest level since September last week before finding support just above $4.00. Traders flipped to net-short exposure Like gold, the sharp declines have ... (full story)