Commercial hedgers remained long the gold market (third week in a row) for the first time in 17 years and long (for the first time in history) the silver market for the fourth week in a row, but here is the big shocker this week.
Commercial Hedgers Still Long Gold!
September 21 (King World News) – Commercials remained net-long the gold market (third week in a row) for the first time in 17 years! Below you can see the commercials being net-long gold, even without the data from this week’s action being reflected yet (see 24-year chart below).
24-YEAR CHART: Commercials Still Long Gold For First Time In 17 Years!
It will be very interesting to see next week’s report…
Silver Surprise!
For the fourth week in a row the commercial hedgers remained long the silver market (for the first time in history). Here is a look at the past 24-years of commercial short positions in the silver market (see chart below).
SILVER SURPRISE CONTINUES: Commercial Hedgers Remain Long The Silver Market!
Also of importance…
Jason Goepfert at SentimenTrader just reported: A massive $33 billion flowed into U.S. ETFs this week, likely a record (see chart below).
THIS WEEK’S SHOCKER: All-Time Record $33 Billion Flowed Into U.S. Stock ETFs!
Stay Disciplined
As the party in the stock market continues, with all-time record weekly inflows into U.S. stock funds and the Dow and S&P 500 hitting all-time highs, we have already witnessed large scale capitulation in the gold and silver markets, both in the precious metals and the underlying shares of the high-quality companies that mine and explore for the metals.
Commercial hedgers remained long the gold market (third week in a row) for the first time in 17 years. They also remained long (for the first time in history) the silver market for the fourth week in a row as they continue tightening the noose around hedge funds and speculators that are massively short the gold and silver markets. At some point the bullion banks will unleash a historic short squeeze.
We may have already seen the bottom of the gold market when it hit $1,160 in overnight trading in Japan during the final stages two weeks ago during the brutal takedown. So $1,160 will be the key number to watch in the short-term. For those who are taking advantage of this historic capitulation, the odds greatly favor a major upside reversal.
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