SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Ride the Tiger with CD
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: dara who wrote (301892)12/17/2023 2:37:37 PM
From: dara3 Recommendations

Recommended By
LoneClone
Pianoman1997
ralfph

  Read Replies (1) of 312259
 
COTS as of December 12, 2023

The Fed Paused.

The commercials changed direction and decreased their net short positions in both silver and gold. In silver they decreased their short positions more than they decreased their long positions which also decreases open interest. In gold the commercials decreased their net short position and increased their long positions. See here and here and here.

Gold pulled back from its all time high at the beginning of the week and upon the Fed announcement stating they are pausing interest rate hikes, gold popped on Wednesday and Thursday consolidating on Friday after 3 Fed governors backtracked on Jay Powell's dovish language. Gold is trading at the $2,035 level. It has had a healthy pullback from overbought.

The HUI participated in gold's spike higher and made a strong move upward trading around its 200 dma.

Silver spiked along with gold and pulled back at the end of the week, trading below its 200 dma. Silver moved with gold finding support at the $23 level and ending the week at $24.15 just above its 200 dma. (I've included the long term charts of gold in silver in this post to show the big picture.) Gold is trading above previous resistance levels of $2,000 and silver is also trading above support at above $22.50 - $23.00.

Copper moved upward on the Fed announcement of no more rate hikes.

Platinum and palladium moved upwards from their base with palladium making the strongest move of all the metals in response to the Fed moving from the $950 level to $1200.

WTIC found support at $67.71 and moved up to $71.78 after the FOMC announcement. Gareth Soloway continues to call WTIC correctly. Natgas has been very weak and found support at $2.23 bouncing to $2.49 post Fed meeting.

The US$ dropped from 103.98 to 101.39 . The yield on the 10 year US treasuries also dropped to 3.91 from its high this year of 5.2. The yield is now approaching an oversold level.

Of the market indices, the DOW, SPX and QQQ all launched higher making new highs for the move. The DOW is well into over bought territory. The TSX followed suit but is the weakest of the market indices.

Ed Steer's comments:

On gold:

"... Of course the set-up in gold still remains bearish -- and would appear to be even more so since the cut-off...but appearances can be deceiving."

"Ted [Butler] has always said that there would come a time when what the COT Report showed wouldn't matter -- and whether we've reached that stage or not, remains to be seen."

On silver:

"... the set-up in silver from a COMEX futures market perspective appears to be still bearish... "


































Disaggregated futures and options - combined report:

cftc.gov

Legacy Report: Futures Only Commodity Exchange Incorporated:

cftc.gov
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News