Canvas Secondary

Silver COT Charts

Here are four charts that breakdown the Silver COT. Data is a week old so keep that in mind. First, here is the general COT. The black is the net speculative position (long) as a percentage of open interest. It has declined materially over the past few weeks. Next is open interest. Interestingly, unlike Gold […]

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More Weakness Ahead for Precious Metals

The Fed minutes were dovish and this helped push Gold above $1310 to $1320. However, the miners, which usually lead the metals did little to confirm the rise. In fact, the miners have been relatively weak in recent days and had a bearish reversal on Thursday. Their rebound from an oversold condition has petered out. […]

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Gold’s Open Interest Hits 5-Year Low

The most recent COT data had one important development. Open interest plunged to a 5-year low. It has been declining steadily for the past three years. Gold probably won’t rebound in earnest until its open interest breaks its downtrend. The decline in open interest signals less interest in Gold. This was one of several COT-related […]

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