As the war in gold and silver rages, commercial hedgers continue making moves in the gold and silver markets.
Commercial Cover Shorts In The Gold Market
November 30 (King World News) – Commercials covered short positions and remain close to being net-long the gold market for one of the few times in the past 17 years (see chart below).
Commercials Cover Shorts, Remain Close To Being Net-Long The Gold Market
It will be very interesting to see next week’s report…
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Below you can see the long-term chart of commercial positions in the gold market. This week the commercials remained close to being net-long the gold market for one of the few times in the past 17 years (see 24-year chart below).
Commercials Covered Shorts, Remain Close To Being Net-Long The Gold Market For One Of The Few Times In The Past 17 Years!
Commercials Activity In The Silver Market
The commercial hedgers added a little bit to shorts but remain close to being net-long the silver market. The 24-year chart below shows commercial hedgers remain positioned in one of the most bullish postures in history (see chart below)
Commercials Remain In One Of The Most Bullish Silver Trading Positions In History!
We have already witnessed large scale capitulation in the gold and silver markets, both in the precious metals and the underlying shares of the high-quality companies that mine and explore for the metals. We may have already seen the bottom of the gold market when it hit $1,160 in overnight trading in Japan during the final stages of the brutal takedown. So $1,160 will be the key number to watch in the short-term. For those who are taking advantage of this historic capitulation, the odds continue to greatly favor a major upside reversal.
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