On the heels of the recent volatility in the gold and silver markets, King World News is pleased to report that the all-time record silver short covering spree continues! Commercials also continued to cover gold shorts!
July 9 (King World News) – Notice the massive, all-time record spike in short covering on the right hand side of the chart (see chart below).
All-Time Record Silver Short Covering Continues! (23-year chart)
Below is a look at the commercial short covering in the gold market…
Commercials also continued to cover short positions in the gold market (see chart below).
Commercials Also Covering Gold Shorts (10-year chart)
All of this short covering is a very positive and significant step in the right direction for the gold and silver markets. KWN will continue to let our global readers know what is happening with commercial short trading in the coming weeks. For what it’s worth, this is the type of commercial trading activity that you would expect to see as you close in on a significant bottom during the summer months.