Gold CoT Report; Hard Lurch Negative but…

…it will only matter when it matters.  Playing it straight, the speculative interests (big net long increase this week) are right as they always are while the current trend is in force.  That means the ‘specs’ are right much more often than not.  When this buildup in Commercial net shorting (big net short increase this week) finally coincides with a reversal speculators will then get drawn down, possibly dramatically.  But the trend is the trend until then.

goldcot

Silver’s CoT actually improved slightly this week but was heavily net short by commercial hedgers at last look.

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