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Housekeeping: There will be no Morning Rundown or AM posts tomorrow.

Good Evening. Find attached this afternoon’s Founders Discussion for Gold.

THIS IS INSTITUTIONAL RESEARCH

The main topic was a recent Gold Options analysis and trade idea written by Goldman Sachs for their institutional clientele.

* We painstakingly go through this report describing the ideas, the risks, and ultimately what it informs us about the positioning of market players. That takes up a good chunk of time interspersed with Q&A

* Next we discuss the CFTC Cot Report.

* Finally a relatively brief discussion is given to technical analysis.

This was a well attended and active discussion.