On the heels of the recent takedown in the metals, the commercials have covered a large number of silver short positions. They have also covered some short positions in the gold market.
Gold & Silver
April 5 (King World News) – Commercial hedgers covered short positions in the gold market (see chart below).
Commercials Cover Gold Shorts
Commercial hedgers also covered a significant amount of short positions in the silver market (see chart below).
Commercials Cover Large Number Of Silver Shorts
It will be very interesting to see if the commercials have covered even more gold and silver shorts in next week’s COT report.
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