Loading ...We talked about those uber bearish COT’s a little yesterday. Funny thing is that gold and to a lesser extent silver has been ignoring the bearish COT’s for months now, and as you correctly point out, a much stronger dollar.
The only thing gold does seem to be paying attention to is bonds and falling rates.
The thing is, if Wolanchuk is right as you suspect, then the SM has a long way to fall and I would think that means bonds continue to rally and rates fall with the SM.
Not sure why the banksters keep pressing their short bets with gold if we are to believe the COT numbers, other than we know they’ll never have to actually cover their bets with anything but printed fiat.
I’d love to see them actually get the hell squeezed out of them. The pure amount of shorts they have at the Crimex have to be worth at least $500 to the upside.