As the war in gold and silver rages, commercial hedgers are making moves in the gold and silver markets.
Commercial Hedger Activity In The Gold Market
November 26 (King World News) – Commercials added to short positions but remain close to being net-long the gold market for one of the few times in the past 17 years (see chart below).
Commercials Add To Shorts But Remain Close To Being Net-Long The Gold Market
It will be very interesting to see next week’s report…
Below you can see the long-term chart of commercial positions in the gold market. This week the commercials remained close to being net-long the gold market for one of the few times in the past 17 years (see 24-year chart below).
Commercials Increase Shorts But Remain Close To Being Net-Long The Gold Market For One Of The Few Times In The Past 17 Years!
Commercials Activity In The Silver Market
The commercial hedgers also added a little bit to shorts but remain close to being net-long the silver market (see chart below).
Commercials Remain Close To Being Net-Long Silver!
The 24-year chart below shows commercial hedgers remain positioned in one of the most bullish postures in history (see chart below)
Commercials Remain In One Of The Most Bullish Silver Trading Positions In History!
For those who missed it…
Eric King: “Ivan, your company just put out a release today on Sombrero, which now looks like it could be a monster deposit.”
A 50 Million Ounce Gold Equivalent Target
Ivan Bebek: “Eric, this project is massive. As you know, in our press release we compared Sombrero to Las Bambas. So we are going to drill a copper-gold target equivalent to a 50 million ounce gold deposit being mined nearby with all the same rocks. Sombrero is the kind of project an investor dreams about being part of in terms of size, and I have to say that even after all of the great successes in my career, both as an executive and as an investor, I never imagined that I would come across a project with this much upside that’s never been drilled before.
12 Month Exploration Season
Eric, this is a once-in-a-lifetime opportunity because of the many remarkable similarities it has to the neighboring major mines. It also has road access and high tensile power lines that are on the property, and there is a $2.4 billion proposed railway that will run in the region that would allow for easy and highly economic transfer of the minerals. And this is important, Eric, unlike our major Canadian projects, Sombrero has the benefit of a 12 month exploration season.
Drilling Anticipated To Commence In Q2 2019
We have literally only scratched the surface in terms of identifying what might well be the next globally significant deposit in the last decade, and we have a plethora of additional targets to sample prior to our inaugural drill program that will take place as soon as the drill permits are complete, which we anticipate will be in the second quarter of 2019. Auryn Resources symbol AUG in Canada and the US. To read today’s press release CLICK HERE.
***KWN has now released the remarkable audio interview with Dr. Stephen Leeb and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
ALSO JUST RELEASED: The Reason For Today’s Big Rally In Stocks, Plus An Important Note On Gold CLICK HERE TO READ.