Last week saw MM increase our gold exposure through Northern Star Resources (NST) when at the same time we were considering an aggressive foray into the iron ore space, one of the reasons we decided to plunge towards the precious metal option was the CFTC report which shows commercial traders are very long the likes of the Swiss Franc & Yen which historically has a very bullish read through for gold – commercial traders are usually the “smart money”.
MM is bullish gold
