As we kickoff another trading week, commercial traders and bullion banks are making moves in the gold and silver markets.
Commercials Covering Gold Shorts
July 9 (King World News) – As we end the first day of a new trading week, there has been a bit of short covering in the gold market. (see chart below).
Commercial Short Covering In Gold
It will be very interesting to see next week’s report…
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The Big Picture
Here is a look at a long-term 24-year chart of commercial short positions in the gold market (see chart below).
24-Year Chart Of Commercial Gold Positions
Commercials Covering Shorts In The Silver Market
There was even more short covering in the silver market (see chart below).
Commercials Cover Additional Silver Shorts
Stay Disciplined
The sentiment in the mining shares is 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 in paper markets. 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 July.
KWN has just released the remarkable audio interview with London whistleblower and metals trader Andrew Maguire and you can listen to it immediately by CLICKING HERE.
ALSO JUST RELEASED: Rick Rule – The Current Situation In The Gold Market Is Extremely Rare CLICK HERE TO READ.
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