By Walter Pehowich
The precious metal markets start off the week locked in a trading range. Gold open interest is up for the fifth week in a row, indicating new longs in place, I guess with hopes the price of Gold has bottomed out.
Option traders on the street have flattened up their positions, giving up hope for a rally to $1,200 dollars going into CME option expiration tomorrow. Retail demand continues to lack any luster with most retail investors looking to equities as the fourth quarter rally continues.