Hi Vhf!

Nawwww... We all know the gold trade is 'crowded' as per his highness, Dennis Gartman.

Never mind that so few institutional investors are even considering owning gold right now, as per that chart. Consider that there are definitely many hedge funds that are net short gold, ie. their participation is a drag pulling on gold at this time. As money flow rolls into the sector the shorts will cover and just more fuel on the bonfire.

cheers!

mike