With the gold and silver markets attempting to stabilize, King World News is pleased to report that the commercials have already covered a massive amount of their short positions!
Commercials Just Covered Massive Number Silver Shorts (10-year chart)
Below is a look at a longer-term 23-year chart of commercial shorts in the silver market…
Notice the massive spike short covering on the right hand side of the chart (see chart below).
23-Year Commercial Silver Chart Shows Record Short Positions
Next week’s COT report will surely show even more short covering in the silver market.
For those who are keeping score, there was very little change in the commercial short positions in the gold market, although it did show commercials had already begun covering prior to the latest decline. The bottom line is that next week’s COT report will shown much more aggressive short covering in both the gold and silver markets.
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