This jaw-dropping indicator was last seen during the Great Depression.
But first, here is an update on the gold, silver and crude oil markets. The following charts are from Jason Goepfert at SentimenTrader. Below you can see the commercial hedgers most recent position in the gold market. Note that commercial hedgers are still in one of the most bullish postures in the past decade (see chart below).
King World News note: Below you can see the commercial hedgers most recent position in the silver market. (see 10-year chart below).
King World News note: Below you can see the commercial hedgers most recent position in the crude oil market. Note that commercial hedgers have recently covered many of their short positions on the recent decline in crude oil. However, they are still very net-short from a historic perspective (see 10-year chart below).
Jaw-Dropping Indicator Last Seen During The Great Depression
Having said that, with the Gold/Oil ratio recently stretched to extremes by hitting 70-year highs, and having only been at this level during the Great Depression, we may finally be seeing the long-awaited bottom for crude oil prices (see remarkable chart below that now includes data going back to 1920).
King World News note: It will be very interesting to see how gold, silver and crude oil markets trade the rest of the year.
These charts are just a portion of one of the latest fantastic reports. To try a free 14-day trial of the internationally acclaimed work that Jason Goepfert produces at SentimenTrader simply CLICK HERE.
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