Gold and silver maintain the bullish stance from last week and in fact silver goes really bullish by this indicator this week. Now of course, we are in the age of indicators mysteriously gone on the fritz so I guess that’s the caveat, if you want to call it one. Here’s silver…
At some point you would think this will manifest in something good. Rarely do gold and silver CoT data get to these levels on the contrarian bullish side.
Commitments of Traders, Gold
Commitments of Traders, Silver
Au and Ag Commitments of Traders improved a bit as of Tuesday. We’ll have to wait until next Friday to see what kind of rats may have been jumping ship during yesterday’s bombing.
Interestingly the silver CoT did not improve and yet quality silver stocks are among the strongest in the precious metals sector. Hmmm… I wonder what kind of short covering may be going on today.