#Gold & #Silver #COT Silver spec longs highest in 12 months

Commitments of Futures Traders show that

large speculators (hedge funds and money

managers) have increased their long positions.

Net commercial dealers increased their short

positions. The positions are almost the smallest

of the last 12 months (attachment 1).


The Gold Barometers reveal that gold stocks

are overbought while the physical gold and

silver are in neutral territory (attachment 2).


As the KITCO Gold Survey (attachment 3)

shows Wall Street and Retail Investors are

bullish for this week.


The Commitments of Futures Traders show

a complete different picture in silver than

gold. Large speculators continue to build

positions while net commercial silver dealers

are increasing their short positions. These

positions are approaching the highest level

of the last 12 months and are historically

very high (attachment 4). Once the showdown

is coming it will be dramatic.


The Gold hourly chart (attachment 5) indicates

the advance of the gold spot price last

Thursday and Friday. Gold closed, as per last

Friday, New York time 4 p.m., at US$ 1,256

per ounce for a gain of US$ 21 per ounce on

the week.


Interestingly, while the gold bullion price

rose the ARCA Gold Bugs Index (called HUI)

couldn’t advance. The advance of this index

stopped at the 200-day moving average and

the MACD crossed the red line about two weeks

ago (attachment 6). This flashes some yellow

lights, a signal to proceed with caution.


Attachment 7 shows the HUI Index and the

Gold price on the graphic just above. It shows

the divergence between the gold mining stocks

and physical gold.



from MasterMetals http://ift.tt/2lpHQaE


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