... The gold open interest fell 1226 contacts to 427,954. The silver open interest dropped another 748 contracts to 148,182, a further confirmation that yesterday’s surge was more commercial shortcovering.
The silver COT report finally revealed some of the commercial short covering I keep alluding to…
*The large specs reduced longs by 11,365 contracts and decreased shorts by 948 contracts.
*The commercials increased longs by 8,679 contracts and reduced shorts by 9,501.
*The small specs reduced longs by 2,441 contracts and reduced shorts by 791.
The gold COT report was one of the most stunning I can recall, and reveals just how rigged the gold market is at the moment…
*Large specs reduced longs by 17,776 contracts and also reduced shorts by 1,509.
*The commercials reduced longs by 5,093 contracts and reduced shorts by a STUNNING 38,096 contracts.
*And get this, the small specs reduced longs by 4,497 contracts, yet increased shorts by 12,239.
This is NOT how tops are made in markets. One thing we are witnessing here is the unhinging of markets. What we have is the United States Government and allies becoming more short, while other commercials are running for the hills as fast as they can. On the other side are surging physical markets in gold and silver. This is leading to an upside explosion of EPIC proportions...
Gruß
der DAU