: “…indeed, the ratio between them has gotten out of whack with the historical average. It’s nearing the most extreme levels since 1980 (see chart below).
Gold/Silver Ratio Extreme!
The latest Commitments of Traders report showed that “smart money” hedgers were holding their lowest-ever short exposure as a percentage of open interest in silver futures (see chart below).
“Smart Money” Least Short Silver In History!
According to the Backtest Engine, the other two times when their exposure was lowest was in July 1997 and June 2013, both preceding rallies.”
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