• Bets on gold rising (302k contracts) challenging last year's 315k high

• During flight to safety in 2020 bullish position reached 353k

• Spot gold isn't that liquid - negligible compared USD

• Gold has risen far and fast and its rally is now stretched

• Gold above peak 20-day, week, quarter and yearly Bollinger Bands

• Tuesday's $2942/oz record high is close $2958/oz peak monthly bands

• $3000/oz is highly influential level and well touted target for gold

• Correction would be healthy for the long-term uptrend

• Changing US rate outlook to underpin dollar

•
Gold

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)