Loading ...Now, you might fairly say “Well – silver’s COT chart was also strongly bullish back in the Spring, looking similar to now, and nothing came of it – worse it turned out to be a trap.” True, but there was one big difference, which was that gold’s COT was definitely not bullish back then. Now, as we will see below, it most definitely is, and gold therefore looks set to rally along with silver. Gold’s latest COT chart shows that the Commercials are starting to go long for the first time since at least 2001. This is a very bullish indication indeed and gives added weight to the strongly positive COT and Hedgers charts for silver.
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