Just , maybe, he may be right
goldminingoutlook.com
looking a little better today. never went below 5, that was a shock.!!
Wednesday's COMEX gold estimated volume was a light 20,000 lots. Total COMEX gold open interest on Tuesday
rose 2,914 to 213,680 contracts, demonstrating moderate commercial accumulation on a day when gold edged down
40 cents, which is bullish, since such a slight pullback would normally create only a tiny rise in open interest. An open
interest this high when commercials are heavily net long has always signaled a major short-term rally. COMEX silver
open interest edged up 148 to 79,866 lots. COMEX gold warehouse stocks rose 4,630 to 824,300 ounces, while
COMEX silver warehouse stocks fell 300,926 to 73,437,864 ounces, a historic low. The Johannesburg Gold Index
closed Wednesday morning at 813.9, down 11.7, with the U.S. dollar at 6.0150 rand. On Friday, August 28, 1998, the
dollar peaked at an all-time high of 6.8600 rand |
