On the heels of another wild trading week, record short covering has taken place in the silver market as the bullion banks are now the most bullish on silver in history as commercials covered gold & silver short positions.
Record 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.
More record commercial short covering in the silver market (see chart below).
Record 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, breaking the all-time record from two weeks ago (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…
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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
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
Stay Disciplined
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.
Regarding The Gold Market…
Eric King: “Matthew, I have been buying more shares of your company’s stock today and have now purchased a total of 1,500,000 shares because I believe it is one of the great gold opportunities of 2018.”
The Next Great Canadian Gold Story
Matthew, CEO of Maple Gold: “Right now we are sitting on the next great Canadian gold story. We have one of the best teams on the planet leading the exploration program in arguably the best jurisdiction in the world, with a 3.2 million ounce head start. In the middle of a rising gold market we have now secured the strongest Quebec funds to back the company, and I’ve announced a closing with them at 24 cents a share, without any warrants, with a lengthy hold period. The point is, Eric, they are looking at this as a long-term investment. This is the same group that financed Osisko from $20 million to a $4 billion market cap. And I’ve been to Asia many times looking for strategic partners and negotiations have progressed to the advanced stage. Any such investment would take place at a significant premium to the current market price.
Stock Set To Skyrocket With 8 Drills Turning!
Investors also need to understand that unlike many juniors, who no longer have drills turning, we have 8 drill rigs simultaneously attacking a variety of different targets. We have also now submitted nearly 5,000 assay samples to the lab and that number will continue to grow as we push for 20,000 meters in the current winter drilling program. We expect drill results to hit the market for three consecutive months, in April, May and June of this year. So the fundamentals of this company continue to expand at an exponential rate, providing a spectacular opportunity for investors to take advantage of the current market capitalization, which we be believe is extraordinarily discounted. Meaning, in my opinion anyone not buying the stock today will deeply regret not doing so, and anyone selling this stock before it surges to $1.50 – $2.50, will have even deeper regrets.
Insiders Buying More Stock
Eric, I know you have been aggressively buying shares of our company’s stock because you understand that when you look at the junior complex, finding companies with our type of upside, jurisdiction, partners, world class team, management, and 3+ million ounces of gold, with more to come, are extremely difficult to find. Meaning, it’s almost impossible to find another company that is this attractive. If I could buy more stock at this time I would. Unfortunately I am blacked out. And, Eric, just to give you an idea, a majority of the board of directors are participating in the offering at .24 a share, which as you know is higher than the current share price. Regardless, the stock is dirt cheap and I don’t believe it will be for long.” For those of you who have not yet acquired a stake in this high-quality company, now is the time. Maple Gold stock symbol MGMLF in the US and MGM in Canada.
ALSO RELEASED: STOCK ROUT RESUMES: Dow Plunges 750 As Dollar Tumbles And Gold Surges, But Here Is The Big Surprise CLICK HERE TO READ.
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