This catalyst could trigger a huge selloff in gold ...Middle East

The bullish momentum in gold remains unabated given the lack of bearish catalysts. We did get a pullback in the end of September/start of October as the repricing in the aggressive rate cuts expectations raised real yields and weighed on the market. There's lots of people shorting this monster at every new high trying to catch the top. I don't blame them because positioning is indeed at record highs, but in the markets something expensive can get even more expensive if there's no meaningful catalyst triggering a repricing.In the chart above, we can see the positioning is at record highs. We are at levels seen only in 2016 and 2020. In the bigger picture, gold remains in a bullish trend as re

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