Huge short squeeze developing?, page-13

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sergeant

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21/07/14

23:36

Post #: 13693164
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Originally posted by srwilson ↑

S"In gold, the Commercial net short position actually improved by 9,097 contracts, or 909,700 troy ounces. The Commercial net short position in gold has obviously declined by that amount---and is down to 15.69 million troy ounces, which is still a horrendously large number.
The 8 largest short holders added 1,000 contracts to their short positions---and Ted says that JPMorgan sold another 3,000 contracts during the reporting week---and their long-side corner in the Comex gold market continues to shrink, and is now down to 2.2 million troy ounces, or 22,000 Comex contracts.
Ted said---and I agree---that probably not all of the decline on Monday and Tuesday was reported to the CFTC in a timely manner, so hopefully there's some spill-over into next Friday's Report. If that doesn't prove to be the case however, it's a given that next Friday's COT Report will be even uglier than even I imagined it might be, because in my comments in The Wrap yesterday, I stated that JPMorgan et al threw everything they had at that spike in gold and silver prices in New York Thursday morning. That data alone should be enough to curl your hair.
Of course we have two more reporting days between now and the Tuesday cut-off---and anything can happen between now and then---but as it stands at the moment, the next COT will be pretty horrific, because almost the entire technical fund short positions in both metals are still in place, plus there will be more to add. This does not bode well for gold and silver prices somewhere down the road."

from http://www.caseyresearch.com/gsd

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Timber, physical gold supply and demand are poles apart from the comex drivel that "apparently sets the price".
Not even you would admit that the majority of physical settlement takes place via comex, so why would you ever try and tie WGC physical gold supply/demand numbers to the paper market, which is where this thread is aiming its comments towards.
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