Charts: MASSIVE Speculative Bets on Gold - Bremain Vote Could Lead to Major Selloff

Mon, Jun 20, 2016 - 11:04am

Fears over a possible Brexit this Thursday have pushed speculative bets on gold to the highest level in twenty years.

Non-commercial traders (i.e. speculators or "dumb money") are often considered a contrarian signal since they tend to be net short (bearish) at major bottoms and net long (bullish) at major tops.

Non-commercial traders have now pushed their speculative bullish positions even higher than the 2011 peak.

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