On the heels of another wild trading week, the bullion banks are now the most bullish on silver in history as commercials covered massive number of gold & silver short positions.
Massive Short Covering In Silver!
March 24 (King World News) – As we close out trading for the week, there has been short covering in the gold and silver markets.
The commercials covered a massive number of short positions in the silver market (see chart below).
Large Short Covering In Silver!
Long-Term Look At Silver
Here is a longer-term look at the commercial positions in the silver market, where they are the most bullish on silver in history (see chart below).
Commercials Most Bullish On Silver In History!
After the recent action in silver, it will be very interesting to see the next COT report…
You can also see that commercials covered a large number of their short positions in the gold market (see chart below).
Large Commercial Short Covering In Gold
Long-Term Look At Gold
You can take a look at long-term commercial short positions in the gold market (see 23-year chart below)…
23-Year Chart Of Commercial Gold Short Positions
The sentiment in the mining shares is also 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 that are starting to crack. 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 March.
ALSO RELEASED: This Is Why Gold Is Surging $20 Today…Plus A Look At US Dollar, Housing And Tariffs CLICK HERE TO READ.
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