COT report indicating commercials added another net 15,000 short contracts as gold continued its rise. The blue arrow on the daily gold chart is last Tuesday which is cut off day for the report which is intentionally delayed until Friday for obvious reasons. If gold "holds" its current position into next Tuesday it will be interesting to see if any covering by the shorts emerges. The Banksters are heavily in the game.
Silver COT indicating another 10,000 shorts were added and with the silver price above last Tuesdays close we might get corrective action into this Tuesday. We shall see.
Over the years with the Bankster run precious metals price suppression scheme running constantly the victim has been production (along with investors) as costs and marginal deposits along with exploration have been a big negative for the sector. Less production means less supply and with demand continuing to grow exponentially as more and more investors along with central banks wake up to the war against all and sundry by the Western ruling Elite then there just ain't gonna be enough to go around. Higher prices is the only solution.
Janet Yellen is on record when she was Fed head saying "gold should be shorted". Greenspan when he was Fed head in the nineties is on record saying "if gold continues to rise I will sell gold into the market to cap the price".
Anybody who thought or said that the central banks (particularly the US Fed) were not interested in gold never knew shit from clay. And no doubt still don't.
