On the heels of the recent takedown in the metals, the commercials are now on the cusp of being long the silver market and covered some gold shorts.
Gold & Silver
May 24 (King World News) – Commercial hedgers covered short positions in the gold market and are moving closer to becoming bullish on gold (see chart below).
Commercials Cover Gold Shorts
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Silver
Commercial hedgers increased their bullish bets even further in silver this week and they are now on the cusp of being long the silver market (see chart below).
Commercials Incredibly Bullish On Silver
Big Picture Bullish For Silver
25-year chart shows commercial hedgers have turned wildly bullish on the silver market (see chart below).
25-Year Chart Shows Commercials Wildly Bullish On Silver
It will be very interesting to see if the commercials have covered even more of their gold and silver shorts 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 Gerald Celente where he discusses trend forecasts for the back half of 2019 and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***Also just released: Celente – These Wildcards Can Crash Global Markets And Economies CLICK HERE TO READ.
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