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TME is following the gold bump.
Gold is back
Gold has come roaring back, and the signals we have been watching are now falling into place. GLD just posted its best week since the January melt-up, ETF demand is returning and CTAs have flipped back long. With upside skew now bid and gold vol finally waking up, the trade has moved quickly. With major resistance approaching, this is increasingly about managing the trade rather than chasing it.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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