Silver CoT Looking Good, Gold Not So Much

Here is the CFTC Commitments of Traders data just out (we’ll have the graphical view of both silver and gold in NFTRH on Sunday).

Why, look at those large Specs pile on the shorts (as of Tuesday, it’s likely better with today’s price puke) as the Commercials continue to net cover shorts. And the little guy is getting whole hog bearish on silver this week and he’s really important, because he’s the guy who believes the bullish promotions when they get too vigorous.

silver cot

Good work for silver. Gold continues to be not so good, although the little guy is shorting. The large Specs are too bullish so naturally the Commercials are taking the other side of the trade.

gold cot

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