The Commitment of Traders’ Report could be telling us something about gold.
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The Commitment of Traders’ Report is looking far different today than it has for a long time. Gary and Doc feel that this bodes well for the price of gold.
concerning the COT
“sentiment” switching?
Yes, this was an interesting change in the amount of traders short based on the COT numbers. It sounds like they are getting ready for a rally soon in Gold, but I’m still cautious moving into the FOMC meeting in early to mid Dec. I have a few silver & gold mining positions in place, but am watching for the next 2 weeks to add, unless I see the signs that things are taking off suddenly in PMs. It is interesting how much the short position was reduced though.
Al,
Avi posted 2 excellent articles READ THEM.. it aint events.
do not forget to READ PETER’S also………………..
Frank.. sentiment builds..either way as u know. what would
cause a switch… thats a good question for doc & gary..
ditto……….GOOD QUESTION FOR DOC AND GARY………….
no answer….. means they do not know………….lol
Thompson Creek Metals closed today at 23 cents, wait for tax loss season coming up. how low can she go!
I would love to purchase TC and have been watching it for months. My problem is whether they can stay solvent—they have a huge bond position that is owed in 2017.
Doc,
If TC has. Big bond due in 2017, and gold should be higher than the highest highs to date, shouldn’t that weigh out to a net gain? And it should make them able to produce more bonds with a stronger rating? Your thoughts?
Also, I think that the ” anything can happen now ” conversation in the market wrap is valid! From what I’m seeing in the global perspective, the markets are at a tipping point.
Which brings me to another question. When the COT report comes out with the lowest on record lows of net short positions, and the options expire on the 16th and 17th, would that not bode well for a rally now before the expiry and let the shorts go after the rally? ( regarding gold, of course )
CharsterChartster, one factor, which is probably indeterminable at this time is interest rates. I am beginning to notice an increase in corporate bonds interest rates compared with national rates, especially in Europe and AUS or NZ. 2017 is far enough away that circumstances are not reliably predictable.
CFS,
Understood, but the corporate bonds that make it through the bubble will be the ones with tangible assets to back a rate of return. I see some of the good metal producing companies that are liquid making it through the washout phase. It looks very bleak for the top 500 and energy sector, IMO..
I’m thinking a stock crash is looming big time! And the blue chips are gonna get hammered!
OWL………….IS YOUR BIRTHDAY TOMORROW OR NOT……………….
Hi Doc,
you keep saying gold and other metals will botton next year. What is you final llow area in gold/silver? How goes you analysis differ from Avi”s
Thanks for you time
Thanks Gary! I would love to hear Avi comment on this. Love the show guys! Good catch Gary! And Big Al is the Godfather of independent financial web.
In case anybody missed this:
BLACK FRIDAY GOLD SMASH — Eric Sprott
https://youtu.be/AYjFzj88Db8
“Our time will come.”
Holter put out a good commentary on the matter , the other day……
“Perhaps most important of all, the negative deposit rate is seen as tied to the euro’s exchange rate to the dollar. That is because the lower rates go in the eurozone, the less people want euros to buy fixed income investments. That lessens demand for euros — and sends its exchange rate lower. It helps exporters and helps the ECB raise inflation by making imports more expensive.”
http://legacy.kitco.com/news/2015-12-01/European-Central-Bank-may-surprise-with-size-of-new-stimulus.html
Endless money printing, negative interest rate, raising inflation – have the financial policymakers gone berserk or is it just the logical finale of fiat (legalized counterfeit) currency?
It’s Big Al’s birthday! Happy Birthday Big Al!
no I think someone said it was on the 6th. or 7th..Pearl Harbor Day…..
owl finally admits he is now of age ………and can now claim full benefits from SOCIAL SECURITY………..
+1
SILVER COIN SALES breaks record at USMINT…….and GOLD Sales up 185%……hello Avi…..
Also look at the premiums on silver coins. They are unreal.
I have, and you are correct…………..
great observation GARY…………….