On the heels of another wild trading week, we have seen more commercial short covering in the gold market!
Short Covering In Gold
May 19 (King World News) – As we close out trading for the week, there has been more short covering in the gold market.
We are seeing commercial short covering in the gold market (see 10-year chart below).
Commercial Short Covering In Gold!
Below is a longer-term look at the commercial positions in the gold market…
Here is a longer-term look at the commercial positions in the gold market, where they continue to exit short positions in gold (see chart below).
24-Year Chart Of Commercial Positions In Gold
The sentiment in the mining shares is 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 May.
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