OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

FYI

Posted by Richard640 @ 16:36 on July 16, 2017  

COT Report Gets Even More Favorable For Gold And Silver

Commodities / Gold and Silver 2017Jul 15, 2017 – 02:42 PM GMT

By: John_Rubino

Commodities

Just a quick, happy update on the gold/silver COT reports. See last week’s post for a little more background.

Speculators are running scared in the paper precious metals markets. And that’s a good thing.

The past few months’ correction has finally led hedge funds and other technical/momentum traders to shed their long positions and load up on short bets. Meanwhile the Commercials, which tend to be right at big turning points, are becoming much more bullish.

 

Historically, the kind of internal structure now evolving in the futures market has signaled the start of a new upswing in prices. That may or may not hold this time around. But if it’s not a screaming buy, it is an indication that that day is getting closer.

Here’s the same data in graphical form for silver. Note that speculator net long positions (the gray bars in the top half of the chart) are getting close to zero, which in the past has always resulted in a good few months.

By John Rubino

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Go to Top

Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.