Gold has had a rather hard time of it during the past several months, as we can see on its latest 1-year below, but its drop has been proportionate to the rally in the dollar, and is therefore unremarkable. What this drop has achieved, which is a useful precursor to a recovery, is to finally flush out the Large Specs, who, after outstaying their welcome, have finally packed their bags and left. This we can see on the latest COT chart, which is stacked right below gold's 1-year chart for direct comparison. Points worth noting on these charts include the following: gold is now oversold on its MACD and relative to its ... (full story)