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Strategies & Market Trends : Ride the Tiger with CD
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To: dara who wrote (301400)11/5/2023 12:29:54 PM
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COTS as of October 31, 2023

The Fed Pauses, General Markets Rally

For the third week in a row the commercials added to their net short position in gold. Again the change in gold was very large. In silver the commercials decreased their net short position. See here and here and here.

Gold is consolidating at the $2,000 level. The HUI was weak throughout the week with a positive close on Friday. Silver is consolidating at the $23 level.

Copper is rallied throughout the week.

Platinum rallied while palladium consolidated at its lows.

WTIC continued its pullback. Natgas is continuing it upward channel move which started in April.

The US$ dropped below 105 along with the yield on the 10 year US treasuries dropping on the Fed's announcement of no rate hike this month.

The DOW, SPX, QQQ and TSX all rallied after the Fed announcement.

Ed Steer's comments:

On gold:

"Gold is now market neutral at best from a COMEX futures market perspective -- and that's even more the case after Friday's price action. "

On silver:

" ... silver is still in a very bullish configuration from a COMEX futures market perspective -- and isn't remotely close to being overbought on its RSI trace."




























Disaggregated futures and options - combined report:

cftc.gov

Legacy Report: Futures Only Commodity Exchange Incorporated:

cftc.gov
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