Traders' Commitments (COT) From Kaplan Site Today
<< As of June 29, 1999, released at 3:30 p.m. on July 2, 1999, the commitments for COMEX gold futures show commercial insiders long 142,021, short 60,945; speculators long 8,971, short 92,582. Small traders were long 36,708, short 34,173. The average historic ratio for commercials is 2:3 long to short; for speculators, 2:1 long to short. Commercials were thus net long 81,076 while speculators were net short 83,611, which represents a modest deterioration from two weeks earlier. This indicator remains EXTREMELY BULLISH.
The traders' commitments for the white metals as of June 29, 1999, released at 3:30 p.m. on July 2, 1999, were somewhat worse for silver, fabulously better for platinum, and little changed for palladium.
For COMEX silver futures, commercial insiders were long 12,353, short 44,203; speculators long 29,679, short 9,507. This means that the commitments for silver are significantly bearish, a modest deterioration from moderately bearish two weeks ago, though far better than the extreme bearish numbers at silver's recent peak.
Looking at NYMEX platinum futures, commercial insiders were long 6,281, short 5,014; with speculators long 3,547, short 6,066. These commitments are significantly bullish, an enormous improvement from strongly bearish two weeks ago.
For NYMEX palladium futures, commercial insiders were long 2,504, short 1,692; and speculators long 134, short 805. These are strongly bullish, and are little changed from two weeks ago.
Due to platinum's fantastic improvement, this indicator has improved to SLIGHTLY BULLISH. >>
goldminingoutlook.com
|
