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Strategies & Market Trends : Ride the Tiger with CD
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To: dara who wrote (299591)5/20/2023 12:37:04 PM
From: dara4 Recommendations

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COTS as of May 16, 2023

US $ Rally Continues, Precious Metals Correction in Progress

A change for this week. The commercials decreased their net short position in both silver and gold by decreasing their shorts and increasing their longs.

In the charts section, I've included the HUI as it was green on Friday while the metals were down. This contrast use to be a buy signal in the "olden days". Maybe today it is a one day wonder. ;)

Ed Steer's Comments:

on silver:

"... on an historical basis -- and from a COMEX futures market perspective, the set-up in silver is still very bullish...a far cry from what it is in gold. "

and in general:

"... this shorting by the big bullion banks in the West -- and yet another 'in progress' engineered price decline, certainly reeks of desperation, as the rest of the world's central banks and governments are buying the stuff hand over fist...especially in light of the ongoing banking crisis, plus the increasing flight from the U.S. dollar."

Check out the graphs this week as they show the build up in net short positions more clearly. They are labelled "Position: Short" under the tradingster links here and here.



















Disaggregated futures and options - combined report:

cftc.gov

Legacy Report: Futures Only Commodity Exchange Incorporated:

cftc.gov
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