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Gold and Silver Disaggregated COT Report (DCOT) for September 26
Posted Sep 26, 2014 at Got Gold Report
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Gold Sentiment – How Bad Is It?
Posted Sep 24, 2014 at Got Gold Report
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Real Reason Venezuela Repatriated its Gold
GGR Comment: In our opinion an example of the real reason Venezuela repatriated its gold back to Caracas is the story below and many more like it that will be coming at them from the ICSID. Chavez didn’t want his gold confiscated by an international tribunal to pay aggrieved companies, after he expropriated these companies’ Venezuela assets and businesses. Gold Reserve says awarded $740.3 mln in Venezuela Brisas arbitration (Reuters) - The International Centre for Settlement of Investment Disputes (ICSID) determined Venezuela must pay U.S.-based miner Gold Reserve $740.3 million for terminating its Las Brisas gold concession, the company said on Monday. Socialist-run Venezuela in 2009 formally ended the concession in one of Latin America's largest gold deposits as part of a strategy to increase state control of key economic sectors. Gold Reserve then sought $2.1 billion in damages at the World Bank's ICSID for what it deemed an expropriation. "While the company is pleased with the award, it is less than the value of the Brisas project at today's gold and copper prices and Venezuela will substantially benefit from... Continue reading
Posted Sep 23, 2014 at Got Gold Report
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Looks like one or more sellers decided to use the good news as a "liquidity event," because PRG is such a light trader. It's not unlike slitting ones own throat, or dropping a sledge on one's toe...
Precipitate Drills Discovery Hole Containing 13.4 g/t Gold Over 5.0 Metres within 18.0 Metres of 4.5 g/t at Ginger Ridge
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 23, 2014) - Precipitate Gold Corporation (the "Company" or "Precipitate") (TSX VENTURE:PRG) is pleased to announce results for its maiden drill program at the Ginger Ridge Zone within the Company's 100% owned Juan de Herrera project in the Tir...
A Few Silver Related Graphs
Posted Sep 21, 2014 at Got Gold Report
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Chinese Gold Demand 41t in week 37, 1331t YTD
Posted Sep 20, 2014 at Got Gold Report
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Suchecki - Gold Bottoming?
The Perth Mint's Bron Suchecki wrote on the 18th: This morning I recorded an interview with Al Korelin for his weekend show which should be up Saturday US time. Al talked about how bad the sentiment was in the gold market right now, the worst he has ever seen, and I'd have to agree. Having said that, I talked about the recent return of demand for gold kilobars from Asia. Premiums have come up off the floor and are moving up nicely. This caused me to have a look at the kilobar movements in COMEX warehouses (see here for background on this indicator), which are shown in the chart below What it shows is that deposits seem to line up with future price weakness, as bullion banks stockpile them when Asian demand is weak. The withdrawals of kilobars, certainly in January this year, foretold price strength but it is not as strong an indicator considering the late 2012/early 2013 ones. You can see that on the 2nd of September 5 tonnes came out of JP Morgan's warehouse and that doesn't... Continue reading
Posted Sep 20, 2014 at Got Gold Report
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Gold and Silver Disaggregated COT Report (DCOT) for September 19
Posted Sep 19, 2014 at Got Gold Report
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Schiff - Fantasy About US Recovery Is Not Going To Materialize
Peter Schiff slices and dices the popular economic narrative in this brief, but worthy CNBC interview below. Continue reading
Posted Sep 13, 2014 at Got Gold Report
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Pento - Why Goldman Sachs Is Wrong On Gold
Posted Sep 13, 2014 at Got Gold Report
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Pento - Why This Equity Rally is About to End Badly
Posted Sep 13, 2014 at Got Gold Report
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Managed Money Shorts Silver Futures
Posted Sep 13, 2014 at Got Gold Report
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I'll post the Managed Money Silver Shorts graph in the VultureInReview section in a little while for a visual on the comment below. Notice how the prior spike in MM gross shorts resolved in what has to be called an aggressive pace. GA
Speculator ‘Insurance Shorts’ and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold
HOUSTON – (Got Gold Report) -- Just a little “thinking out loud” on the Managed Money, what I call “insurance short” positions. Doing so shows a considerable amount of gun powder laying on a large wooden box of short covering dynamite, metaphorically speaking. That's because while The Funds p...
Managed Money traders report a very high 37,081 shorts in silver futures as of Sep 9 with silver then $19.05. You might as well read that sentence as: “Managed Money traders have to cover contracts covering 185 million ounces of silver at some point in the near future…”
Recall that Managed Money built up a huge silver gross short position in May/June. It peaked June 3 at a whopping 42,804 shorts after silver had been sold down to $18.79. That was at or near the turn in prices. They began covering the shorts aggressively then.
By June 24 silver had recovered back to near $21 and Managed Money had covered all but 17,765 of those shorts. (They would go on to hold under 10,000 shorts later in July, by the way, as silver traded sideways with a $20 handle.)
Bottom Line: There is ample, plenty, lots of bull firepower in Spec shorts for both gold and silver now, just waiting on a catalyst and another turn in prices, which I expect will be forthcoming most anytime now – likely to show up out of the blue. Have a good weekend. GA
Speculator ‘Insurance Shorts’ and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold
HOUSTON – (Got Gold Report) -- Just a little “thinking out loud” on the Managed Money, what I call “insurance short” positions. Doing so shows a considerable amount of gun powder laying on a large wooden box of short covering dynamite, metaphorically speaking. That's because while The Funds p...
Cashin – Deflation Keeping Central Bankers Up at Night
The CNBC set up for this brief video of Art Cashin of UBS reads: Discussing pressure in the commodity complex, and whether the market is headed into a deflationary cycle, with Art Cashin of UBS, and CNBC's Bob Pisani. CNBC Continue reading
Posted Sep 12, 2014 at Got Gold Report
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Hamilton - Heavy PM Shorting Bullish
Posted Sep 12, 2014 at Got Gold Report
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Oh, in case it isn't obvious, I am pretty surprised at how few shorts were put on this week by Managed Money traders and there may be a Tell in there somewhere. As John correctly observed, they only added 5,299 gross shorts, and their net long position only declined by half that or so.
If there was a surprise bigger than that one, I don't know what it would be. The USD is way overextended as traders unwind carry trades galore in a ZIRP fiat leper colony kind of world.
But it won't last all that much longer, I reckon. Either Japan will finally detonate, another crisis will develop on the Continent, or some other black swan will land none of us can even imagine at the moment.
At some point those who have accumulated real metal will likely be glad they did...
Speculator ‘Insurance Shorts’ and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold
HOUSTON – (Got Gold Report) -- Just a little “thinking out loud” on the Managed Money, what I call “insurance short” positions. Doing so shows a considerable amount of gun powder laying on a large wooden box of short covering dynamite, metaphorically speaking. That's because while The Funds p...
Right, John, that was as of Tuesday with gold down $9.92 for the COT week (to $1255) - since then plumbing the $1220s again (to my mild surprise and delight). I really didn't see much evidence of it in the bid stack, even late week, but I still suspect that we probably saw some significant short reduction late week, especially on Friday with the FOMC coming up next week and what I have to believe is a mass psychosis disconnect with Draghi's pure bluff at the ECB and the way the markets reacted to it. It's as if Draghi actually came with the Full Monte QE and the Germans bowed in submission - except they just didn't do either.
As my dear grandmother would have said in the early 1960s, "Go and Figure!"
Speculator ‘Insurance Shorts’ and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold
HOUSTON – (Got Gold Report) -- Just a little “thinking out loud” on the Managed Money, what I call “insurance short” positions. Doing so shows a considerable amount of gun powder laying on a large wooden box of short covering dynamite, metaphorically speaking. That's because while The Funds p...
Thanks John,
"The previous record short position for MM appears to be at end of 2013." Yep, Dec 3, 2013, 83,730 shorts. that was against 93,671 longs, so a net of only 9941 contracts net long with gold then $1223, but pretty we4ll bid then as I recall.
Have a great weekend. I intend to take it easy more than not! This has been a good week for buying real metal in my own opinion. Could it get better? Yes, but I'll take what we just got thank you very much.
Speculator ‘Insurance Shorts’ and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold
HOUSTON – (Got Gold Report) -- Just a little “thinking out loud” on the Managed Money, what I call “insurance short” positions. Doing so shows a considerable amount of gun powder laying on a large wooden box of short covering dynamite, metaphorically speaking. That's because while The Funds p...
Gold and Silver Disaggregated COT Report (DCOT) for September 12
Posted Sep 12, 2014 at Got Gold Report
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Over to you, ECB's Draghi tells euro zone governments...
Posted Sep 12, 2014 at Got Gold Report
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Koos Jansen -- India's June Gold Import Highest in 12 Months
Koos Jansen is a keen observer of the precious metals biz in Asia. He writes for BullionStar.com. Koos begins: Despite the fact the new Indian government, led by Narandra Modi since May, hasn't lowered the import duties on both gold and silver, Indians keep on buying precious metals. Despite the fact we already knew this, there was less gold being smuggled into the country and more imported through official channels last June; 77 tonnes were gross imported, which is up 48 % from a month earlier, and up 75 % from June last year. This was accompanied by falling premiums. Gross export in June accounted for 4 tonnes, according to India's customs department DGCIS. One of the import restrictions the Indian government implied on gold in 2013 was the 80/20 rule; of every amount of gold imported 20 % has to be re-exported. The gross amount exported in June falls short of the required 15.4 tonnes (20 % of 77 tonnes is 15.4 tonnes), meaning importers have some overdue obligations to be met in coming months. The other restriction on... Continue reading
Posted Sep 12, 2014 at Got Gold Report
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Speculator ‘Insurance Shorts’ and Swap Dealer Shorts Likely to Spark a Counter Rally in Gold
Posted Sep 12, 2014 at Got Gold Report
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Draghi Says Government Spending Could Help Eurozone Economy
Posted Sep 11, 2014 at Got Gold Report
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GLOBAL MARKETS-Dollar's rise pressures commodities amid Fed anxiety
Posted Sep 11, 2014 at Got Gold Report
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