On the heels of another wild trading week, the bullion banks have just covered some of their gold short positions but what is happening in the silver market is quite extraordinary!

Massive Short Covering In Silver!
March 2 (King World News) – As we close out trading for the week, there has been short covering in the gold and silver markets

The commercials covered more of their short positions in the silver market (see chart below)!

More Commercial Short Covering In Silver!

After the recent action in silver, it will be very interesting to see the next COT report…

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Long-Term Look At Silver
Here is a longer-term look at the commercial positions in the silver market (see chart below).

23-year chart of commercial silver short positions

You can see that commercials covered a bit of their short positions in the gold market (see chart below).

A Bit Of Commercial short covering in gold

After the recent action in the gold market, it will also be very interesting to see the next COT report for gold.


Stay Disciplined
The sentiment in the mining shares is also extremely negative right now and that is very bullish from a contrarian perspective.  If you are accumulating physical gold and silver, just continue to purchase at the normal times each month if you are dollar cost averaging.  Don’t be distracted by the manias that are starting to crack. Instead, stay disciplined and don’t try to outsmart the market as you continue to accumulate.  For those of you who are accumulating your favorite high-quality mining shares, continue to dollar cost average in February.

Why I Bought 400,000 Shares Of This Gold Exploration Company

A 20-Bagger In Gold?

Eric King:  “I’m a shareholder (purchased 400,000 shares so far in the open market) of your company (symbol TORQ in Canada and TRBMF in the US).  I know the insiders have been buying as well and can’t seem to get enough of this stock.  You guys are not in this for a double or a triple.  When I see you guys (insiders) buying this aggressively (over 2.5 million shares of insider purchases recently), you’re looking to make 5X or 10X your money.

Michael Kosowan, CEO (insider):  “You are right, we don’t look at making 20% or 30%.  The large insider shareholdings means that we are really looking to monetize to a larger entity.  Our vision is to build these assets and get to over $10 a share (roughly 20X higher than the current price of 53 cents!)…To learn more about which gold exploration company insiders have been buying like crazy CLICK HERE!

ALSO RELEASED: This Is The Real Reason Why Markets Are Plunging CLICK HERE TO READ.

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