Tom McClellan gives an update on the silver market.
October 12 (King World News) – Tom McClellan: “This week’s COT Report from the CFTC shows that the big-money commercial silver futures traders are still net short in a big way. They skew to the short side, since many commercials are producers selling future production. Very little adjustment yet given the $2 drop since Aug (see below).
Producers go short whenever they sell their future crop, whether it is silver or wheat. This is not news. A miner need not sell short early; he can sell in spot market. What is news is that they are doing so to a large degree compared to past months. They think now’s a good time.
KWN has just released the powerful audio interview with Egon von Greyerz and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
Greyerz On Gold
READ THIS NEXT! Greyerz – This Is The Truly Shocking Thing About Gold’s Surge To $1,550 CLICK HERE TO READ
More articles to follow…
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