Gold Net Speculative Positioning in 2012
Gold Net Speculative Positioning opened 2012 at 130,971 and closed at 148,519, a +13.40% move for the year. The high of 211,949 was reached on October 9, and the low of 110,712 on May 29.
Monthly Breakdown
| Month | Open | Close | High | Low | Change |
|---|---|---|---|---|---|
| Jan | 130,971 | 171,359 | 171,359 | 130,971 | +30.84% |
| Feb | 177,507 | 193,220 | 193,220 | 167,420 | +8.85% |
| Mar | 163,265 | 147,821 | 163,265 | 131,463 | -9.46% |
| Apr | 141,765 | 134,994 | 142,005 | 134,994 | -4.78% |
| May | 140,393 | 110,712 | 140,393 | 110,712 | -21.14% |
| Jun | 128,864 | 122,619 | 136,404 | 122,619 | -4.85% |
| Jul | 137,215 | 126,064 | 137,215 | 112,977 | -8.13% |
| Aug | 115,500 | 158,491 | 158,491 | 114,304 | +37.22% |
| Sep | 170,464 | 203,896 | 203,896 | 170,464 | +19.61% |
| Oct | 208,326 | 170,222 | 211,949 | 170,222 | -18.29% |
| Nov | 160,173 | 200,407 | 200,407 | 160,173 | +25.12% |
| Dec | 165,736 | 148,519 | 165,736 | 148,519 | -10.39% |
Events During 2012
Greece's debt revelation in October 2009 triggered a multi-year eurozone crisis that threatened the euro's survival. Greece, Ireland, Portugal, Spain, and Italy required emergency support. Mario Draghi's "whatever it takes" in 2012 ended the acute phase.
ECB President Mario Draghi's July 26, 2012 speech in London ended the acute eurozone crisis. The commitment, backed by Outright Monetary Transactions, arrested peripheral yield spikes without buying a single bond.
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