On the heels of the recent takedown in the metals, the commercials remain bullish on silver and make moves in the gold market.
Gold & Silver
May 3 (King World News) – Commercial hedgers added a bit to their shorts positions in the gold market, although recently they had been moving closer to becoming bullish on gold (see chart below).
Commercials Add A Bit To Gold Shorts
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Silver
Commercial hedgers were essentially flat this week on their positions in the silver market and remain bullish (see chart below).
Commercials Become Remain Bullish On Silver
Big Picture Bullish For Silver
25-year chart shows commercial hedgers have now turned bullish on the silver market (see chart below).
25-Year Chart Shows Commercials Bullish On Silver
It will be very interesting to see if the commercials have covered a large number of gold and silver short positions in next week’s COT report. For those who accumulate physical gold and silver on a dollar cost basis, continue to make purchases at the same time each month. Do not get cute and try to time the market… ***KWN has now released the powerful audio interview with Adrian Day and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***Also just released: Andrew Maguire – Bullion Banks Are About To Torch Speculative Gold & Silver Shorts CLICK HERE TO READ.
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