On the heels of another wild trading week, commercials covered gold shorts as the war in the gold & silver markets continues to rage.
Record Short Covering In Silver!
April 14 (King World News) – As we close out trading for the week, there has been more action in the gold and silver markets.
Commercials still near all-time record bullishness in the silver market (see chart below).
Near All-Time Record Commercial Bullishness In The Silver Market!
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, right near the all-time record from last week (see chart below).
Commercials Remain 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 some of their short positions as the war in the gold market continues to rage (see chart below).
Commercial Short Covering In Gold
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 April.
ALSO RELEASED: James Turk Just Said This May Cause The Price Of Silver To Skyrocket CLICK HERE TO READ.
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