Last weekly gold COT report showed Commercials increased their short position by more than 50K contracts. How massive was that? It is equivalent of 69% of current COMEX holdings including bullion banks and their customers.
The downtrend of gold and silver prices probably has begun.
Quote: The current gold/silver price ratio is over 70; which is absurd considering silver's annual production is only 15 times of gold in weight. In many ways, I believe the downside for silver is limited
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