Gold is well on its way down to an important area of potential support around $1,000/oz, throw in potentially extreme CoT positioning (the next CoT report from the CFTC will be released Monday afternoon) and favorable seasonality from mid-December through late-January and the ingredients exist for a tremendous buying opportunity in gold arising during the next couple of weeks.

“November 6, 2014 is the full moon and it’s common for either markets to accelerate in the direction they are moving or to do a U-turn in direction. With the washout in gold, silver and mining shares of all sorts in the last week or so, investors should be watching for a bottom and sudden move higher.”