The Exchange Traded Funds were dumping gold significantly with the largest outflow to date. This is good for reducing the long-positions opens the door to future buyers. Just holding and never selling is what the Japanese did and we see what that has produced. Those who only advocate buying are not analysts. Anyone can always just say buy and on dips buy more. There is no practical management of any position or realization that when people take losses, the lack the courage to buy more. They should work for the US Treasury or Fed who follow the same philosophy – whatever trend in motion will stay in motion. Most economists do the same thing.
