Here is where the gold and silver markets stand after a wild trading week.
February 5 (King World News) – Alasdair Macleod out of London: Eric, the Swaps (bullion bank traders) only managed to close a net 2,383 shorts, despite killing the price. The objective was to shake the Managed Money tree (hedge funds), and in this they partly succeeded, getting them to reduce net longs by 8,621 contracts.
At a time of a strengthening dollar trade weighted index, talk of economic recovery and therefore higher interest rates, coupled with a determination to kill the price, one would have thought they could have done better. But they have only managed to reduce their net shorts to $35 billion in money terms. Gross and net are shown in the next chart.
This chart shows the problem. The Fed’s money printing is going off the Richter scale (Biden’s $1.9 trillion package is voted through) and gold and silver should be going to the moon. The reason they are not is that if their prices reflected the inflation reality, bullion banks would be bust. What we have seen this week is a desperate attempt by them to maintain control over prices…
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But in another development, Comex deliveries are becoming a daily occurrence. Nearly 70 tonnes have stood for delivery in the last six trading sessions.
This brings me to the interesting point in the COT figures — the Other Reported category increased its longs by a net 8,201 contracts. This is where the deliveries are going, and the Other Reporteds are squeezing the bullion banks, just as they did last March,as my last chart shows.
Their net longs are only 5,500 contracts under the record. It is this category that is not frightened to go long and take delivery when the price is low.
To listen to Gerald Celente discuss why gold and silver will surge strongly and what surprises to expect in 2021 CLICK HERE OR ON THE IMAGE BELOW.
KWN has now released an audio interview with Alasdair Macleod discussing the shortages in the London metals market and you can listen by CLICKING HERE OR ON THE IMAGE BELOW.
Also released! ALERT: More Reports Of Silver Shortages In London CLICK HERE TO READ.
Also released! Bubble Alert, Plus An Update On The Gold Market CLICK HERE TO READ.
Also released! This Is How We Will Know Gold Has Bottomed CLICK HERE TO READ.
Also released! Gold Plunges $50 But Greyerz Says There Are Major Shortages In The LBMA And Futures Markets CLICK HERE TO READ.
Also released! Truly Mind-Boggling Chart, Sprott Says They Have 100+ Million Ounces Of Physical Silver, Plus Unleashing Reserves CLICK HERE TO READ.
Also released! Sprott Asset Management: Silver Headed To $35, Above That Expect Price Spikes To $47-$119 CLICK HERE TO READ.
Also released! JP Morgan And Silver, The Great Rotation Into Gold & Silver, And Look At These Remarkable Charts CLICK HERE TO READ.
Also released! After Today’s Pullback It Is Important To Look At The Big Picture For Gold & Silver CLICK HERE TO READ.
Also released! WHAT TIMING: Curiously JP Morgan Downgrades Silver Stocks, But This Is Even More Stunning CLICK HERE TO READ.
Also released! Reddit WallStreetBets Group Unleashing Silver Price, But This Will Trigger Real Panic Into Gold & Silver CLICK HERE TO READ.
Also released! SILVER: WHAT A DAY! Look At Who Just Predicted We Will See $2,500-$4,000 GOLD And $57-$131 Silver CLICK HERE TO READ.
Also released! SILVER PRICE SOARING ON SQUEEZE: $50 Price Target Just Issued But Look At This Surprise CLICK HERE TO READ.
Also released! Greyerz – Macleod Is Right, There Is NO LIQUIDITY IN LONDON And Bullion Banks Are Short 100 Million Ounces Of Silver CLICK HERE TO READ.
Also released! Robinhood Silver Traders May Break The Comex And Serious Hurt Bullion Banks CLICK HERE TO READ.
Also released! Central Banks Created Niagara Falls Of Printed Money And Debt, Gushing Chaotically All Over The World CLICK HERE TO READ.
Also released! NO SILVER LIQUIDITY IN LONDON: This “Could Destabilize All Gold & Silver Contracts” As Reddit Silver Short Squeeze Continues CLICK HERE TO READ.
Also released! REDDIT TRADERS TARGET SILVER: Man Who Oversees Nearly $160 Billion Says Silver May Be Poised To Skyrocket CLICK HERE TO READ.
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