By Jeff Clark in Growth Stock Wire:

A couple weeks I ago, I told you commercial gold traders, otherwise known as "the smart money," had amassed the largest short gold futures position of the past several years. In other words, they were betting on a decline in the price of the shiny yellow metal.

The Commitment of Traders report, issued last Friday and reflecting positions through last Tuesday, showed these traders are now even more bearish. The smart money short position is now a huge 320,000 contracts.

The smart money is betting big on a drop in the price of gold. And they're now on the right side of the trade.

Read full article...

More on gold:

Gold must soar over $7,150 to best previous record

Why you shouldn't care about short-term gold predictions

World's richest & most successful speculator warns of great inflation