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Over the last few weeks we’ve been writing about potential macroeconomic developments, which will drive Gold in the near term and in the years ahead. We thought we’d take a break from that and focus on what we enjoy most: analyzing technicals and sentiment….

Let me start out by asking a few questions….

…Sovereign governments through their bailouts, stimulus packages and support, have basically become the credit markets….

The CFTC’s latest weekly Commitment of Traders report shows that after a brief respite, potentially dictated by Goldman’s very temporary euro bullishness, the euro is back to having a record number of non-commercial futures-only positions at -74,917. This is a more than 50% increase from last week’s -46,341. As a reminder the prior euro net short record was -74,551 two weeks ago…

A few weeks ago we wrote about the true cause of hyperinflation, which is a major break or failure in the bond market. It has nothing to do with demand, bank lending or the velocity of money as many have suggested. It is a confidence issue….

…I look at many things to track sentiment. In terms of Gold we have COTs and various sentiment surveys among other things. The ISE put-call data has been the most reliable…

…Interestingly, the best value is now at the very bottom of the food chain. Some people call these the crap juniors or the garbage juniors. I refer to them as the lower tier juniors…

Great post from “Gordon Gekko” at Zero Hedge….

….Investors are the most bullish on the dollar since the collapse of Lehman Brothers Holdings Inc. on speculation the U.S. economy will expand at a faster pace than in Europe and Japan, a survey of Bloomberg users showed….