bobbyw24
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Got Gold Report: COMEX commercial shorts in retreat for silver
11/17/2009 11:38:11 AM | Gene Arensberg
As silver rose the largest short sellers seen taking a powder
HOUSTON – Gold traders have their eyes on two non-confirmations that so far have refused to “answer” gold’s push to new all time nominal highs – the relative price of silver to gold and the performance of the equities of mining companies. Silver is lagging gold and the action of mining shares, both big and small, have thus far refused to reflect investor confidence that gold will be able to maintain its remarkable ascent.
At the same time we have to take note that other indicators we dare not ignore are signaling continued strength for gold and especially silver. Chief among them are a surge of positive money flow into silver ETFs, bullish action in CFTC commitments of traders positioning (of the largest gold and silver futures traders) and the fact that both gold and silver futures in New York closed the week in significant backwardation again.
We’ll have more about all that below, but first here’s this week’s closing table:
http://www.stockhouse.com/Columnists/2009/Nov/17/Got-Gold-Report--COMEX-commercial-shorts-in-retrea
11/17/2009 11:38:11 AM | Gene Arensberg
As silver rose the largest short sellers seen taking a powder
HOUSTON – Gold traders have their eyes on two non-confirmations that so far have refused to “answer” gold’s push to new all time nominal highs – the relative price of silver to gold and the performance of the equities of mining companies. Silver is lagging gold and the action of mining shares, both big and small, have thus far refused to reflect investor confidence that gold will be able to maintain its remarkable ascent.
At the same time we have to take note that other indicators we dare not ignore are signaling continued strength for gold and especially silver. Chief among them are a surge of positive money flow into silver ETFs, bullish action in CFTC commitments of traders positioning (of the largest gold and silver futures traders) and the fact that both gold and silver futures in New York closed the week in significant backwardation again.
We’ll have more about all that below, but first here’s this week’s closing table:
http://www.stockhouse.com/Columnists/2009/Nov/17/Got-Gold-Report--COMEX-commercial-shorts-in-retrea
