Bullion banks have been covering shorts in the gold market on the latest takedown, plus a look at silver and mining stocks.
Gold
February 5 (King World News) – King World News note: Below you can see the latest report showing bullion banks and commercial traders have reduced their net short positions in the gold market:
20 Year Chart Shows Commercials Covering
Gold Short Positions On The Latest
Takedown In The Gold Market
Silver
Below is a look at how bullion banks and commercial traders have been positioned in the silver market for the past 20 years. There is no question the setup in the silver market is bullish at this point from a historic perspective.
20 Year Chart Shows Commercial Traders
Positioned In A Very Bullish Manner
From A Historic Perspective
Crash In Sentiment Towards Mining Stocks
Below is a look at how sentiment in the GDX Mining Stock Index has crashed.
CAPITULATION:
Sentiment Toward Mining Stocks Crashed
For those who dollar cost average their purchases in physical gold and silver, remain disciplined and continue purchasing at the same time monthly or quarterly. Do not get cute and try to time these markets. But for those who are looking to accumulate physical silver for the first time at cheap prices or simply want to add to their existing hoard, right now and on any further weakness it is a good idea to be extremely aggressive in accumulating physical silver, even though it is possible the price may go a bit lower.
To listen to James Turk discuss what he expects to see from the metals markets short and long term as well as the mining share markets click here or on the image below.
Alasdair Macleod’s audio interview has just been released click here or on the image below!
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