Week ending 19th June. There was MM selling as expected. In silver there was not as much selling as after the previous spike . In gold there was a huge amount of MM selling totalling nearly 35k. Much more than silver. There was also hefty short cover from the commercials in gold as well but they didn't add a lot of new long positions which is interesting. They took profits on their short positions but didn't add new longs so could be looking at further downward movement. There has been some red candles since Tuesday. Was that enough or is there more to come?
Great... thanks for the heads up. The last 2 candles in Gold are looking positive so it will be interesting to see if, in fact, Silver becomes the leading indicator for Gold.
Week ending 26th June. Managed Money have gone net short in gold for the first time since 2015. Previous net short positions here have been consolidations followed by upside rallies
Delayed CoT report release by the CFTC until Monday due to the Federal holiday
Week ending 17th June 2018.
Both silver and gold managed money funds are now definitively net short. Gold is very bullishly set up. Gold positions in this weeks CoT report is more bullish than it was at the price bottom of July 2017. See chart below.
Silver is bullish also but still has room to move down if it is going to the same extremes as gold. If silver is going to lead gold up as some commentators are saying then we may see further movement to the downside first
Thanks Nathan
