Loading ...The Commitment of Traders Report
Silver
*The large specs reduced their long positions by 343 contracts and decreased their shorts by 4,032 contracts.
*The commercials reduced their longs by 562 contracts and increased their shorts by 3,145 contracts.
*The small specs reduced their longs by 120 contracts and decreased their shorts by 138 contracts.
Gold
*The large specs reduced their long positions by 21,878 contracts and reduced their shorts by 195 contracts.
*The commercials increased their longs by 4,431 contracts and decreased their shorts by 17,144 contracts.
*The small specs reduced their longs by 280 contracts and reduced their shorts by 388 contracts.
Yep, all that recent reduction in the gold OI was the bad guys starting to run for the hills. One of the most bullish gold COT reports I can recall. The silver numbers, after the big change last week, make me want to throw up. JPM just goes on and on. Until they are beaten, it is hopeless. OF COURSE, that could happen at any time, after all these years, as the price of gold EXPLODES thanks to the physical market bulls in Asia.
From Murph on Friday–V bullish for gold–not so for silver
This shud be fun !!!!!!!!
Tucker Carlson Spotted In Moscow As Neocons Melt Down Over Potential Putin Interview
FWIW…
Greg Hunter and Catherine Austin Fitts discuss stage gold depositories.
And he's gone … pic.twitter.com/RS3vvbpFGc
— Wall Street Silver (@WallStreetSilv) February 3, 2024
Excellent … a blow against the NWO
France Caves To Farmers As Ireland ‘Solidarity’ Protests Kick Off
Two of France’s main farming unions on Thursday agreed to suspend protests and lift road blockades across the country after the government announced measures the deemed “tangible progress” in the ongoing revolt against EU ‘climate-driven’ initiatives designed to wean society off of evil, non-bug-based, carbon-emitting food while China, India, and the rest of the world laughs.
https://www.zerohedge.com/geopolitical/france-caves-farmers-ireland-solidarity-protests-kick
Michael Pento
Worth a watch. Talks a lot about gold. Very bullish but not all in yet, have to listen. I don’t know too many goldbugs who could disagree with this. He said if you want to shorten your life buy a couple gold stocks, especially the minors. He’s sticking with a ETF
W Web
Insites in IA and control. Who’s behind trying criminalize information they don’t like, having to get off social media and find another source of communication, control of live’s and money, not just crypto and more. How Klaus warned of a cyber pandemic. Bank shutdowns.
Gov snowflake whining after he was schooled of their policy’s now trying to slander that woman cashier.
Gov snowflake wants to fire a Target worker for telling him what everyone else knows. Thinks he can order people around even endanger them.
Basically what their doing is destroying the city, job loss, inflation ,causing poverty and homelessness while sheltering illegals instead causing even higher housing counts then instead of going after them they tell the people to just rob the city.
Gabben is now the male name for Karen
The chairwoman of the California Republican Party responded to the clip of Newsom on X saying: “Shoutout to this store clerk for saying to the governor’s face what every Californian has wanted to say: that he and his radical (California Democratic Party) buddies are to blame for CA’s surging crime. Sadly, Newsom still didn’t seem to take the hint.”
According to state data, shoplifting totals in 2022 are higher than 2021 and 2020 but still lower than pre-pandemic levels.
The chairwoman of the California Republican Party responded to the clip of Newsom on X saying: “Shoutout to this store clerk for saying to the governor’s face what every Californian has wanted to say: that he and his radical (California Democratic Party) buddies are to blame for CA’s surging crime. Sadly, Newsom still didn’t seem to take the hint.”
According to state data, shoplifting totals in 2022 are higher than 2021 and 2020 but still lower than pre-pandemic levels.
We’ll see what happens next …
US Strikes At Least 85 Targets In Iraq & Syria, Including From B1 Bombers
today’s knock down surely was courtesy of uncle scam
Who else sells all at once again? A nice $40 move, you know they’re shaking the cart about now. Goldbugs are an easy target compared to crypto.
When Money Dies (Turkish Lira) pic.twitter.com/9jp7v8Ailj
— Willem Middelkoop (@wmiddelkoop) February 2, 2024
A tough way to make a buck….
Everything
…..is definitely rigged, and will get even more egregious between now and the election in November.
Richard 640 watches open interest of options pretty closely. I’m just thinking that we should see the OI in downside puts start to explode for options expiring in November and farther out.
Mr Copper
It seemed to me most, not all gold stocks are topping from the move from Oct till now. They’d have to breach resistance to trust higher moves. Nevertheless I don’t trust anything they put out on jobs report. The matrix is rigged.
Stock market
I read this:
https://www.zerohedge.com/markets/retirement-savers-are-piling-stocks-good-idea
and today my brokerage house called me to set up an investment meeting. I haven’t heard from them in several years. I hope they and the other houses are not beating the bushes to get the average investor in perhaps to affect the election but more likely to offset the selling that is going on and allow certain players out without tanking the market. Are we at the top? Perhaps another leg up but regardless speaking of minefields.
aurum
added
but perhaps I misjudge them, and they are merely cautioning their clients about elevated risk.
BG
Agreed. The pm stocks are a mine field. But still….
aurum
They stole an election for President …probably multiple times..so ‘stealing’ a jobs report is nothing
so not only are the numbers fixed the Bots are programmed to trade the result they want, with no limit vols…..
Mr. Copper, Maddog
The one thing we absolutely know is the numbers were fudged. They are always fudged to make it seem that the Fed has it right. Always.
Maddog, really glad you did!
Aurum
Yeah, I don’t know. The Money Masters have turned the pm sector into a no-fly zone. Certainly no average player will ever go in, why should they?
The dollar is king. Paper is king. World demand for pm’s is meaningless because the dollar is king and paper markets rule, but I digess.
PM ‘s will never be a viable investment unless and until the money masters want it to be. Period.
Captain Hook and I had a discussion a few months ago about NVDA and how overvalued it supposedly was – a few months ago! It was at $330 at the time. Now it has doubled since then, simply on the notion that the Fed would start to cut rates.
What are we missing here brother?
Gold Down as traders freaked out about the better than anticipated jobs number.
You can see gold got absolutely hammered during the trading session on Friday as traders freaked out about the better than anticipated jobs number. At this point, the bond market is starting to sell off drastically and therefore rates rise and gold falls. That being said, the 50 day EMA underneath should continue to offer support and I think that will be the case going forward.
Ultimately, this is a market that still sees a lot of support down at the $2,000 level. So this will end up being a buying opportunity eventually, at least as soon as all the panic traders get out of the market. The uptrend remains for multiple reasons and although we may have to reprice the idea of rate cuts, the geopolitical issues alone may make gold something you want to own at least in part of your portfolio.
Ultimately, it looks like we’re going to chop around between $2,000 and $2075 in the near term, but if we were to break down below the $1,980 level, that would be extraordinarily negative as it would open up the possibility of completely falling apart. And at that point in time, I would probably consider shorting gold but I don’t really have any interest in trying to get too cute with it.
I’m just going to play the overall market that we have, which at this point in time is range bound with more of an upward proclivity. Furthermore, keep in mind the jobs number coming out hotter than anticipated generally causes a short-term reaction that quite often gets reversed. So I will be watching this for signs of strength and taking advantage of that if and when it shows up.
If we were to break above the $2075 level, it’s likely that this becomes more or less a buy and hold market but right now it looks like everybody is in the process of running their programs and throwing the market around without regard to anything beyond the next two or three minutes.
Comment: How do we know the Jobs report wasn’t fudged on purpose to bash gold, stop gold from breaking thru $2100.
Buygold
Tks for yr comments…very glad to help Ipso out and could not let all those fine posters dissapear into the Web ether………