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11/05/20

06:30

Post #: 44540747
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Originally posted by ourlady: ↑

The Bullion Banks successfully cleared out all of their shorts when the price fell back below 12 in March. They are now neutral. Although they could try to get long now, this is bullish, imho. However, what’s more interesting is that despite the rise in the paper price off its low in March, Banks have not been adding shorts as they typically do. Coupled with the fact that ABN AMRO and Scotia Bank have exited the market altogether and big names like HSBC have been burnt badly recently, suffering huge losses on the split between paper and physical prices, the paper market is looking increasingly broken.
Back on January 23, I wrote an article entitled “Does Palladium Signal the End of Paper Futures in Gold and Silver? Possibly. But Not Yet.” https://www.sprottmoney.com/Blog/does-palladium-signal-the-end-of-paper-futures-in-gold-and-silver-possibly-but-not-yet-david-brady-23-012020.html I showed how the COT report for Palladium signaled that the market had broken down when Palladium took off. Specifically, the Funds did not chase the price higher by adding longs and the Commercials did not add shorts either. Open interest was falling. This was exactly the opposite of what should have happened given the meteoric rise in Palladium, which had doubled. A clear sign that the market makers—the banks—had retreated from the market. It was broken."
People are swarming for gold atm, very soon there will not be enough of it. It's been held for three weeks now and feel we are now very close to the next breakout:-"

https://www.zerohedge.com/news/2020-05-08/are-gold-and-especially-silver-about-explode-higher

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People are swarming for gold atm, very soon there will not be enough of it. It's been held for three weeks now and feel we are now very close to the next breakout:-"
=================

If people are 'swarming for gold, why is the price in a descending triangle pattern?

Sprott Money.....LOL....did Sprott Money EVER say gold was likely to decline?
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