Following the decline in the gold market on Friday of last week, King World News released a piece titled Is a historic upside breakout in the gold bull market about to take place? We got the answer on Thursday and Friday of this week as the price of gold powered through resistance at $1,240 and continued heading higher after the breakout.
But first, an update on how commercials are positioning themselves in crude oil and silver…
This chart below shows all-time record commercial short positions in the crude oil market.
All-Time Record Short Positions In Crude Oil
Shocking 23-Year Chart Of Commercial Oil Shorts
Commercial Short Positions In Silver Near Record
Below is a 23-year big picture look at the commercial short positions in the silver market (see chart below).
23-Years Of Commercial Short Positions In Silver
Also of importance…
There is one other chart of commercial short positioning that is extremely important…
In a King World News interview I spoke with the man who predicted the Swiss National Bank would experience staggering losses and that the Fed would also experience massive losses that will destabilize the global financial system! His company is the only one in the world offering a precious metals investment service outside the banking system, with direct ownership and full control by the investor. He has also become legendary for his predictions on QE, historic moves in currencies, and major global events. To find out what he and his company can do to help answer that age old question for you CLICK HERE.
If we take a look at what is happening in the gold market it is quite fascinating. For the past couple of weeks commercial short positions in the gold market have barely budged (see chart below).
Commercial Gold Short Positions Remain Tame
Historic Upside Breakout In Gold Now Taking Place
If you look closely at the chart above, unlike some other commodities where the commercials have piled in aggressively as prices have rallied, in the gold market we see no sign whatsoever of increased commercial shorting. This suggests that there may be a great deal more upside in the gold market. As for crude oil and silver, there are major danger signals being flashed in both of those markets…KWN has now released the remarkable audio interview with London whistleblower and metals trader Andrew Maguire and you can listen to it by CLICKING HERE.
**ALSO JUST RELEASED: Whistleblower Andrew Maguire – A Trip Down The Rabbit Hole Of JP Morgan Lawyers, The New York Post, And The Interview That Shocked The World CLICK HERE.