Gold's Summer Doldrums

Strange voices are saying
What did they say?
Things I can't understand
It's too close for comfort
This heat has got right out of hand
--Bananarama

Jason Goepfert observes that money managers that trade gold futures have rarely been less bullish on gold over the past 12 years. This has been a decent contrarian indicator in the past.

Have also been hearing anecdotal accounts from multiple channels (i.e., bullion, collectables) of tough to find physical gold.

Is the end to gold's summer doldrums near?

position in gold