by Alasdair Macleod, GoldMoney:
The rally from recent lows continued, with gold up $14 from last Friday’s close in mid-morning European trade today (Friday) at $1208. Over the same timescale, silver gained 34 cents to $14.40. Both metals remain extremely oversold, with no signs of panic in the ursine community – yet. The next chart shows the net managed money position for gold on Comex.