At the end of another record breaking week in the markets, is a historic upside breakout in the gold bull market about to take place?
But first, a quick update on how commercial traders are positioning themselves…
This is from Jason Goepfert at SentimenTrader: “The latest Commitments of Traders report was released, covering positions through Tuesday. Hedgers moved to…record short exposure in cotton, crude oil and nearly silver (see charts below).”
All-Time Record Commercial Short Positions In Cotton
All-Time Record Short Positions In Crude Oil
Commercial Short Positions In Silver Near Record
Also of importance…
King World News note: There is one other chart of commercial short positioning that is extremely important…
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If we take a look at what is happening in the gold market it is quite fascinating. Commercials actually covered some of their short positions in the gold market in this week’s report (see chart below).
Commercials Covered Some Gold Short Positions
Is A Historic Upside Breakout In Gold Bull About To Take Place?
King World News note: If you look closely at the chart above, unlike some other commodities where the commercials have piled in aggressively as prices have rallied, in the gold market we see no sign whatsoever of increased commercial shorting. In fact, as mentioned earlier, there was a bit of short covering. This suggests that there may be a great deal more upside in the gold market as well as the mining shares…KWN has just released the remarkable audio interview with Michael Belkin, the man who counsels the biggest money on the planet, discussing the mining shares, gold, silver, global markets, and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Chart Of The Day Shows Mega-Bullish “Golden Cross” For Gold Mining Shares! CLICK HERE.
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