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Gold/Mining/Energy : Silver prices

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To: ForYourEyesOnly who wrote (1361)	11/3/1998 1:24:00 PM
From: Ray Hughes	Read Replies (3) of 8010

THC: When I was a Metals Securities Analyst I found the daily United Kingdom reports on sales of Sovereigns (gold coins) to be a strong leading indicator of the direction of gold's price. In similar fashion sales of silver coins, perhaps those reported for the Eagle and the Maple Leaf, will provide a leading indicator. Another valuable indicator can be had from the Commitments of Traders reports from the CFTC. Commercials are seldom wrong. currently (23 October) they are 30.6% more short than long gold (123,504 contracts short vs 94,588 contracts long). In silver, commercials are 267.4% short vs their long position. Tracking changes in commercials' net short/long positions is very useful as a price change predictor. CFTC reports are available through cftc.gov. RH

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