Gold is getting whacked hard today, and in fact all the commodities are getting bludgeoned.Fears of a China slowdown probably have something to do with it.
But what makes commodities particularly vulnerable right now is that net speculative long positions are near all-time highs right now across the board.
That trade is very crowded, and thus revere-prone.
In a recent note, Mike O’Rourke of BTIG laid out the numbers across key commodities.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.