While equity futures are modestly higher compared to Friday's early
9:15 am close, where only a short, 45 minute long bloodbath was allowed
on Good Friday after the
worst jobs report in two years,
the one asset class that has moved the most by far this evening is
gold, which has spiked by 1.5% and is on the verge of breaking out above
the resistance level that has proven a tractor beam to any momentum
breakout over the past 2 months.
If gold rises above $1225 overnight, or rather if the trading desk under the supervision of
Benoit Gilson, the BIS' "head of FX and gold"
allows the price of paper gold to reach that level, a huge short
squeeze will be imminent because, as a reminder, in addition to the EUR,
gold shorts
are also at a record high.
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