On the heels of the recent takedown in the metals, the commercials have now turned even more bullish on silver and covered a large number of gold short positions.
Gold & Silver
April 26 (King World News) – For the second time in two weeks, commercial hedgers covered a huge number of short positions in the gold market and are moving closer to becoming bullish on gold (see chart below).
Commercials Cover Gold Shorts
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Silver
Commercial hedgers also covered short positions in the silver market (see chart below).
Commercials Become Even More Bullish On Silver
Big Picture Bullish For Silver
25-year chart shows commercial hedgers have now turned even more bullish on the silver market (see chart below).
25-Year Chart Shows Commercials More Bullish On Silver
It will be very interesting to see if the commercials have covered even more gold and silver shorts in next week’s COT report. For those who accumulate physical gold and silver on a dollar cost basis, continue to make purchases at the same time each month. Do not get cute and try to time the market…KWN has now released the powerful and timely audio interview with Andrew Maguire and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***Also just released: Andrew Maguire – A Central Bank Is Exploiting A New Gold Window That Will Crush The Naked Gold Shorts CLICK HERE TO READ.
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