Factoid: "Hedge Funds, Money Managers’ Gold Bets Fall to Lowest Since January"

I'm not sure how important this is. Usually you want all the funds to be long to get the biggest bang for the buck in a down-move but where the gold market is sitting right now it is time for a relentless grind lower to totally dispirit retail longs. Something akin to a compressed version of the 1973-74 equity markets decline would do nicely. Still looking for ~$875 next quarter meaning a 30% drop over the next 114 days.
Sure, why not. $1252.90 up 40 cents, last.
From Barron's:

This graphic from Reuters shows how aggressive money managers’ bets on gold are back to the depressed levels last seen in January.

Hedge funds and other money managers who trade futures and options are net “long” 51,000 contracts, about half the level a month earlier, according to Commodity Futures Trading Commission data released on Friday.

The number of gold futures and options contracts outstanding in the market at the moment, which is known as the open interest, is also near 2014 lows....MORE