On the heels of another wild trading week, we have seen commercial short covering in the gold market and some commercial maneuvering in silver as well.
Short Covering In Gold
March 27 (King World News) – As we close out trading for the week, there has been short covering in the gold market.
We are seeing commercial short covering in the gold market (see chart below).
Commercial Short Covering In Gold!
Long-Term Look At Gold
Here is a longer-term look at the commercial positions in the gold market, where they have already covered some of the short positions and where we should see additional short covering in next week’s report (see chart below).
24-Year Chart Of Commercial Gold Positions
After the recent action in gold, it will be very interesting to see the next COT report…
You can see that commercials added a bit to their short positions as the war in the silver market continues to rage (see chart below).
Commercials Add Silver Shorts
Long-Term Look At Silver
You can take a look at long-term commercial short positions in the silver market (see 23-year chart below)…
24-Year Chart Of Commercial Silver Short Positions
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 April.
ALSO RELEASED: ALERT: Fascinating Email From CEO In Gold Sector, Plus A Dire Warning CLICK HERE TO READ.
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