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« While Silver Shines, Gold Could Be Poised To Disappoint | Main | Silver Plays Catch-Up To Gold, 2016 Could be "Pivotal" Year: CPM Group »
Thursday
Apr282016

Interesting Silver Debate: Do Old Indicators Matter Or Is Physical About To Overrun Paper?

For as long as most gold and silver investors can remember, the paper markets — that is, banks and speculators placing bets with futures contracts — have set the price of those metals. And within the paper markets, “the commercials” — fabricators and big banks — have consistently fooled speculators like hedge funds into going long or short at exactly the wrong time.

The data series that tracks this relationship is known as the commitment of traders report (COT), and it’s been a pretty reliable indicator of precious metals’ short-term trajectory.

Right now that’s bad news for gold and especially for silver, because the speculators — who, remember, are usually wrong at the extremes — are exuberantly long the latter, implying that the silver recovery is due for a correction. Here’s a recent piece from well-known metals trader Dan Norcini:


read more.....

 

Silver prices are currently trading at $17.79/oz and could soon reach there previous high formed in February 2015, can it break through or is a correction about to make an appearance?

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