{"id":36621,"date":"2016-10-15T13:28:24","date_gmt":"2016-10-15T20:28:24","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=36621"},"modified":"2016-10-15T13:36:54","modified_gmt":"2016-10-15T20:36:54","slug":"gold-silver-face-further-erosion-of-support","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/","title":{"rendered":"Gold and Silver Face A Further Erosion of Support"},"content":{"rendered":"<p>A week ago, <a href=\"http:\/\/seekingalpha.com\/article\/4010977-gold-silver-bid-bottom\" target=\"_blank\">I laid out a case<\/a> for a tradable bottom in SPDR Gold Trust (GLD) and iShares Silver Trust (SLV). While both funds held up around 200-day moving average (DMA) support, speculators retreated further from net long positions in the latest CFTC data.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_36627\" aria-describedby=\"caption-attachment-36627\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png\" alt=\"Gold speculators significantly reduced net longs positions for the second week in a row.\" width=\"550\" height=\"550\" class=\"size-full wp-image-36627\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD-150x150.png 150w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD-300x300.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36627\" class=\"wp-caption-text\">Gold speculators significantly reduced net longs positions for the second week in a row.<\/figcaption><\/figure><\/p>\n<p><figure id=\"attachment_36626\" aria-describedby=\"caption-attachment-36626\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAG_USD.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAG_USD.png\" alt=\"Silver speculators significantly reduced net longs positions for the second week in a row.\" width=\"550\" height=\"550\" class=\"size-full wp-image-36626\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAG_USD.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAG_USD-150x150.png 150w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAG_USD-300x300.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36626\" class=\"wp-caption-text\">Silver speculators significantly reduced net longs positions for the second week in a row.<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"https:\/\/www.oanda.com\/forex-trading\/analysis\/commitments-of-traders\" target=\"_blank\">Oanda&#8217;s CFTC Commitment of Traders<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>Net speculative longs in gold are back to levels last seen at the end of May. Net speculative longs in silver are back to levels last seen in early June. A more definitive downtrend appears to be developing as measured from the July highs. The charts above show demonstrate the importance of tracking these speculative positions because both gold and silver peaked right around the time of the peak in net longs. If the retreat in positions continues from here, I fully expect GLD and SLV to give up 200DMA support.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_36628\" aria-describedby=\"caption-attachment-36628\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_GLD.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_GLD.png\" alt=\"SPDR Gold Shares (GLD) churned all week below its 200DMA support. It ended the week at a marginally new 4-month low.\" width=\"550\" height=\"375\" class=\"size-full wp-image-36628\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_GLD.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_GLD-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36628\" class=\"wp-caption-text\">SPDR Gold Shares (GLD) churned all week below its 200DMA support. It ended the week at a marginally new 4-month low.<\/figcaption><\/figure><\/p>\n<p><figure id=\"attachment_36629\" aria-describedby=\"caption-attachment-36629\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_SLV.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_SLV.png\" alt=\"The iShares Silver Trust (SLV) churned all week as it remained aloft above 200DMA support.\" width=\"550\" height=\"375\" class=\"size-full wp-image-36629\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_SLV.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_SLV-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36629\" class=\"wp-caption-text\">The iShares Silver Trust (SLV) churned all week as it remained aloft above 200DMA support.<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.freestockcharts.com\/platform\/v1\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>Interest rates are part of the issue weighing down on gold. On Friday, iShares 20+ Year Treasury Bond (TLT) broke its 200DMA support (lower TLT means higher bond yields). Notice how TLT peaked in July right alongside the peaks in GLD and SLV.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_36635\" aria-describedby=\"caption-attachment-36635\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_TLT.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_TLT.png\" alt=\"The iShares 20+ Year Treasury Bond (TLT) broke critical uptrend support at its 200DMA.\" width=\"550\" height=\"375\" class=\"size-full wp-image-36635\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_TLT.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_TLT-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36635\" class=\"wp-caption-text\">The iShares 20+ Year Treasury Bond (TLT) broke critical uptrend support at its 200DMA.<\/figcaption><\/figure><br \/>\n<strong>Source: <a href=\"http:\/\/www.freestockcharts.com\/platform\/v1\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>In my last post, I forgot to show a chart of the ratio of oil to gold. I think this is interesting because oil has sprung back to life at the same time support has eroded for gold. On a historical basis, oil has been trading quiet cheaply relative to oil. The current oil\/gold ratio is back to the high for 2016. There is still quite some ways to go before even reaching the post-recession, fracking era midway point. <\/p>\n<p><center><br \/>\n<figure id=\"attachment_36623\" aria-describedby=\"caption-attachment-36623\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_OilVsGold.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_OilVsGold.png\" alt=\"Is oil finally starting a long overdue comeback against gold?\" width=\"550\" height=\"212\" class=\"size-full wp-image-36623\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_OilVsGold.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_OilVsGold-300x116.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36623\" class=\"wp-caption-text\">Is oil finally starting a long overdue comeback against gold?<\/figcaption><\/figure><br \/>\n<strong>Source: ICE Benchmark Administration Limited (IBA), Gold Fixing Price 3:00 P.M. (London time) in London Bullion Market, based in U.S. Dollars [GOLDPMGBD228NLBM], <a href=\"https:\/\/fred.stlouisfed.org\/series\/GOLDPMGBD228NLBM\" target=\"_blank\">retrieved from FRED, Federal Reserve Bank of St. Louis<\/a>, October 15, 2016. US. Energy Information Administration, Crude Oil Prices: West Texas Intermediate (WTI) &#8211; Cushing, Oklahoma [DCOILWTICO], <a href=\"https:\/\/fred.stlouisfed.org\/series\/DCOILWTICO\" target=\"_blank\">retrieved from FRED, Federal Reserve Bank of St. Louis<\/a>, October 15, 2016. <a href=\"https:\/\/fred.stlouisfed.org\/graph\/?g=7Knl\" target=\"_blank\">Click here to go to FRED for the chart.<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>I am also giving a special mention to VanEck Merk Gold Trust (OUNZ). OUNZ is a gold ETF which allows investors the option of taking physical delivery of gold. For those who fear that GLD is just &#8220;paper gold&#8221; that will evaporate if the fund is called into account for its asset value, OUNZ may be a satisfactory alternative to buying gold bars directly. The chart below shows that OUNZ essentially trades like GLD. This comparison means that, so far, investors and traders are not paying a premium (or discount) for the extra privilege of access to physical delivery.<\/p>\n<p><center><br \/>\n<figure id=\"attachment_36622\" aria-describedby=\"caption-attachment-36622\" style=\"width: 540px\" class=\"wp-caption alignnone\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_OUNZ.png\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_OUNZ.png\" alt=\"Like GLD, VanEck Merk Gold Trust (OUNZ) is struggling to hold onto 200DMA support.\" width=\"550\" height=\"375\" class=\"size-full wp-image-36622\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_OUNZ.png 550w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161014_OUNZ-300x205.png 300w\" sizes=\"auto, (max-width: 550px) 100vw, 550px\" \/><\/a><figcaption id=\"caption-attachment-36622\" class=\"wp-caption-text\">Like GLD, VanEck Merk Gold Trust (OUNZ) is struggling to hold onto 200DMA support.<\/figcaption><\/figure><br \/>\n<strong>Source for charts: <a href=\"http:\/\/www.freestockcharts.com\/platform\/v1\" target=\"_blank\">FreeStockCharts.com<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>Be careful out there!<\/p>\n<p>Full disclosure: long GLD, long SLV shares and call options<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A week ago, I laid out a case for a tradable bottom in SPDR Gold Trust (GLD) and iShares Silver Trust (SLV). While both funds held up around 200-day moving average (DMA) support, speculators retreated further from net long positions in the latest CFTC data. Source: Oanda&#8217;s CFTC Commitment of Traders Net speculative longs in &#8230; <a title=\"Gold and Silver Face A Further Erosion of Support\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/\">Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[456,199,377,511,62],"tags":[200,24,536,1792,25,354,280],"class_list":["post-36621","post","type-post","status-publish","format-standard","hentry","category-bonds-2","category-commodities","category-oil","category-support","category-technical-analysis","tag-gld","tag-gold","tag-oil-2","tag-ounz","tag-silver","tag-slv","tag-tlt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold and Silver Face A Further Erosion of Support - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold and Silver Face A Further Erosion of Support - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"A week ago, I laid out a case for a tradable bottom in SPDR Gold Trust (GLD) and iShares Silver Trust (SLV). While both funds held up around 200-day moving average (DMA) support, speculators retreated further from net long positions in the latest CFTC data. Source: Oanda&#8217;s CFTC Commitment of Traders Net speculative longs in ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2016-10-15T20:28:24+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2016-10-15T20:36:54+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"Gold and Silver Face A Further Erosion of Support\",\"datePublished\":\"2016-10-15T20:28:24+00:00\",\"dateModified\":\"2016-10-15T20:36:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/\"},\"wordCount\":615,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/161015_cot-XAU_USD.png\",\"keywords\":[\"GLD\",\"gold\",\"oil\",\"OUNZ\",\"silver\",\"SLV\",\"TLT\"],\"articleSection\":[\"Bonds\",\"Commodities\",\"Oil\",\"Support\",\"Technical Analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/\",\"name\":\"Gold and Silver Face A Further Erosion of Support - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/161015_cot-XAU_USD.png\",\"datePublished\":\"2016-10-15T20:28:24+00:00\",\"dateModified\":\"2016-10-15T20:36:54+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#primaryimage\",\"url\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/161015_cot-XAU_USD.png\",\"contentUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2016\\\/10\\\/161015_cot-XAU_USD.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2016\\\/10\\\/15\\\/gold-silver-face-further-erosion-of-support\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Gold and Silver Face A Further Erosion of Support\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Gold and Silver Face A Further Erosion of Support - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/","og_locale":"en_US","og_type":"article","og_title":"Gold and Silver Face A Further Erosion of Support - ONE-TWENTY TWO: Trading Financial Markets","og_description":"A week ago, I laid out a case for a tradable bottom in SPDR Gold Trust (GLD) and iShares Silver Trust (SLV). While both funds held up around 200-day moving average (DMA) support, speculators retreated further from net long positions in the latest CFTC data. Source: Oanda&#8217;s CFTC Commitment of Traders Net speculative longs in ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2016-10-15T20:28:24+00:00","article_modified_time":"2016-10-15T20:36:54+00:00","og_image":[{"url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png","type":"","width":"","height":""}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"Gold and Silver Face A Further Erosion of Support","datePublished":"2016-10-15T20:28:24+00:00","dateModified":"2016-10-15T20:36:54+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/"},"wordCount":615,"commentCount":0,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png","keywords":["GLD","gold","oil","OUNZ","silver","SLV","TLT"],"articleSection":["Bonds","Commodities","Oil","Support","Technical Analysis"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/","url":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/","name":"Gold and Silver Face A Further Erosion of Support - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png","datePublished":"2016-10-15T20:28:24+00:00","dateModified":"2016-10-15T20:36:54+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#primaryimage","url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png","contentUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2016\/10\/161015_cot-XAU_USD.png"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2016\/10\/15\/gold-silver-face-further-erosion-of-support\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"Gold and Silver Face A Further Erosion of Support"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/36621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=36621"}],"version-history":[{"count":8,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/36621\/revisions"}],"predecessor-version":[{"id":36636,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/36621\/revisions\/36636"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=36621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=36621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=36621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}