Lately, however, gold has reappeared in the news with a positive bias, and reignited the interest of the longs. April is shaping up to be a very definitive month in the Gold Wars.

This month gold could drop like a stone. Or the bulls could overwhelm the shorts and the metal could soar.

Or, the third (and maybe the most interesting) possibility, gold could simply hold at its current levels. Understand that if gold held this month in spite of the largest commercial short position ever, that would be a major bull signal for the rest of the summer.