/biz/ - Business & Finance

https://www.goldmoney.com/research/market-updates/eliminating-call-options

"The dollar’s move towards hyperinflationary territory of the dollar’s money supply is upsetting the arrangement, which is why Comex, which was never intended to be a delivery market, has seen record deliveries demanded. In the next few days, we will see how many of the remaining December 47,043 contracts (Wednesday’s open interest) will be stood for delivery.

December has often been a turning point for the gold price, and it marked the commencement of this bull market in 2015. This is shown in our chart.

With the exception of December 2018, the gold price fell to a low point in the months before. In all cases, the gold price rose dramatically subsequently. If this pattern is repeated, then we should shortly see the gold price begin to rise towards the year end and beyond. Furthermore, this spike down to the $1800 level can be expected to be underwritten by the 200-day moving average. Last March, it was this average which marked the turn of the market from $1450 to the $2075 high in August."