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Showing posts with label cot report. Show all posts
Showing posts with label cot report. Show all posts

Sunday, August 13, 2017

Gold interest from big institutional players point towards higher prices as shorts dump their Comex positions

While the weekly Commitment of Traders (COT) report isn't always the best indicator for the future direction of precious metals, it does provide a snapshot of what big institutional players are doing in regards to futures and interest.

On Aug. 13 the latest COT report came out showing that short covering is continuing in the futures markets as positions on the downside dropped to their lowest levels since September of last year, and just before the election.  In the meantime, long positions began to slowly increase, which when coupled with recent remarks from billionaire investors like Ray Dalio, signal that gold should continue to move higher and soon breach the $1300 price level.

The latest Commitment of Traders ((NYSE:COT)) report, showed another rise in speculative longs for the week, though it was a bit subdued. The big change in gold speculative positions came on the short side as speculative shorts lowered their own positions to around 29,000 contracts outstanding - the lowest levels of speculative gold shorts since last September when gold was well over $1300. 
Silver, the best performing precious metal on the week, also saw a similar drop in short interest as longs essentially stayed put. - Seeking Alpha

Sunday, June 11, 2017

Investors betting heavily on gold price going both up and down leading into next week's Fed FOMC meeting

In the latest Commitment of Traders (COT) report, investors speculating in the paper gold markets are putting down massive bets both for and against the gold price leading up to next week's Fed FOMC meeting that could determine the next move in interest rates.

Bullish speculators increased their gold bets by the largest amount on record. 
Speculators betting on a gold drop also made large increased to their own positions. 
Next week's major event is the FOMC meeting and conference and we expect that Janet Yellen will offer investors nothing unexpected. 
Asian gold demand has been subdued with a large rise in May Indian imports that we expect will fall in June as jewelers de-stock. 
With expectations of a lackluster Fed meeting, we see no reason to change our short-term position and we expect gold and silver to follow current momentum downwards next week. 
The latest Commitment of Traders (COT) report showed a week of speculators jumping into gold on both the long and the short side. On the long side, we saw a massive gross increase in speculative longs as traders added more than 50,000 contracts on the COT week - the largest increase in our records going back to 2006! 
Shorts were not sleeping either, as they increased their own positions for the week by more than 10,000 contracts. After a strong start to the week and a rise close to $1300, gold ended the week on a three-day losing streak and down around 1% on the week - which matched our call for last week. Silver followed gold down for the week with a drop a little under 2%. - Seeking Alpha