Amid a global scramble for physical gold and silver, both metals are breaking out, signaling the start of the next powerful phase in their bull markets.
Banks have increased their net short position in Silver by 53% in just the past three weeks. Either they are trying to cap Silver’s rally or they are getting ready for a big drop, or both.
On the other paw, the Funds ramped up their net long position by 70% in three weeks.
To me, the latter makes more sense but as the paper to Silver ratio is about 380:1 a Silver squeeze is on the cards ... and soon!
Great article Jesse and thank you. I thought that the Chinese New Year would give a reason for a slam in the metals, but I'll hold my hands up and admit that I was wrong with this!
I imagine that $3,000 Gold is a strong possibility first before a pull back as per COT data warnings
Great post as usual.
Banks have increased their net short position in Silver by 53% in just the past three weeks. Either they are trying to cap Silver’s rally or they are getting ready for a big drop, or both.
On the other paw, the Funds ramped up their net long position by 70% in three weeks.
To me, the latter makes more sense but as the paper to Silver ratio is about 380:1 a Silver squeeze is on the cards ... and soon!
Charlie.
Lowercosta.com
Great article Jesse and thank you. I thought that the Chinese New Year would give a reason for a slam in the metals, but I'll hold my hands up and admit that I was wrong with this!
I imagine that $3,000 Gold is a strong possibility first before a pull back as per COT data warnings