Gold & Silver Commitments of Traders

In NFTRH 636 we noted..

“Unfortunately, the gold and silver Commitments of Traders data are not offering positive signals. While neither is a show stopper, we’d prefer to see speculators less bullish on both metals at this point. But it has been a strange year for CoT signals and I am going to give this lower priority for now.”

Unfortunately, it was not a lower priority. It was ripened for the fleecing of those not used to how the precious metals roll, when combined with the cheerleading of late. I had not wanted to see it happen, but happen it did. It’s the precious metals after all. If you are time weathered like me you know exactly what I mean.

Here is the just released CoT for gold (as of Jan. 5th). Indeed the goons had bulked up further against gold, the large specs became even more frothy and the little guy got peppier than he already was. Through this lens today’s dope hammering makes infinite sense.

gold cot

Silver had similar dynamics in play against it. CoT rules are different than in bear markets. In a bear the they operate to positive and negative trends over long stretches of time. In a bull the hits can be frightening and violent, but not last as long. We’ll see how this shakes out next week.

silver cot

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