According to Daniel Ghali, Senior Commodity Strategist at TDS, the Gold markets are currently presenting a unique opportunity. Despite a strong argument for its value, the aggregate open interest in CME Gold is at a record low of 425k, indicating a perception of a crowded trade. However, Ghali believes that the reality is that Gold is actually under-owned. This is especially surprising as Gold’s recent rally is tied to the US Dollar losing its status as a reliable store of value. Ghali explains that this rally is based on trust, not demand, and predicts an imminent rise in futures open interest. With CTAs expected to buy Gold in any market scenario this week and algorithmic buying increasing by 4%, Ghali confidently predicts a continuation of this trend and potentially reaching an impressive 30% of algo’s max size by next week’s NFP report. He also highlights the signs of exhaustion among ETF holders and a possible turnaround in trade discussions in the near future, which could further bolster Gold prices. Overall, Ghali’s outlook is strongly positive for Gold and suggests an ideal time to invest in the precious metal.