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GOLD & SILVER COT REPORT 4/5: COMMERCIALS COVER MASSIVE 28 MILLION OZ OF NET SILVER SHORTS!
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
silverdoctors.com / By Marshall Swing / April 8, 2013
Gold & Silver COT Report 4/5/13
Commercial longs added 2,283 contracts to their total and covered 3,255 shorts to end the week with 43.08% of all open interest, a significant decrease of 1.51% in their share since last week, and now stand as a group at 92,515,000 ounces net short, which is a decrease of almost 28 million net short ounces from the previous week.
Large speculators added 653 longs and swallowed up 3,911 more short contracts decreasing their net long position to 40,730,000 ounces, a decrease in their net long position of over 16 million ounces from the prior week.
Small speculators increased their long total by 630 contracts and added 2,910 short positions to their total for a net long position of 51,785,000 ounces a decrease of 11.4 million ounces net long from the prior week.
The real surprise this past reporting period is the small speculators who jumped back into the short game in a big way adding 2,910 short contracts. They had been convinced the downward price spiral was at an end but something moved them back into the game. Could it be they are following the article from Martin Armstrong that says silver may see $23 and then $17?
Thanks to BrotherJohnF
2013-04-08 12:51:39
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