Here is a look at the moves that bullion banks are making in the gold and silver markets.
April 23 (King World News) – The positioning by commercial traders in the gold market is slightly bearish.
A multi-decade picture shows that commercials have been more aggressively short the gold market in the past. Regardless, their positioning is tilted bearish with the ability to increase their short position on further upside action.
Here is a look at the silver market, where commercials are definitely positioned in a bearish manner.
A 10 year look at commercial positioning reveals that the price of silver could head higher from here and break above $30. In that scenario, the commercials would continue to increase their short positions.
There will be pullbacks and shakeouts along the way, but the gold market in particular has enormous power underneath it. This will lead to much higher prices over time as gold advances will certainly continue to surge toward the $2,700-$3,000 area. Meanwhile silver is headed back toward its all-time high. As for the mining stocks, they remain one of the cheapest asset classes in the world, but that will soon change.
Celente – $3,000 Gold In 2024
To listen to one of Gerald Celente’s most important interviews ever discussing his predictions for the price of gold and what other surprises to expect in 2024 CLICK HERE OR ON THE IMAGE BELOW.
China Has Stockpiled 30,000+ Tonnes Of Gold
To listen to Alasdair Macleod discuss China’s massive gold hoard as well as what to expect for the rest of 2024 CLICK HERE OR ON THE IMAGE BELOW.
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