Sentiment

Tiho Brkan was kind of enough to share these charts which provide insight into the sentiment in the precious metals market…. First is GLD and GLD physical holdings….. Next we have the rate of change for GLD’s value (of holdings)…. Here is Gold with the current positioning of large speculators and small speculators….. Last, here … Continue reading

Here is the AAII survey and the number of bears. Source   Next we show the updated speculator positions in the COT (for Gold):   Here is the same for the US Dollar:  

We all know that sentiment on Gold is quite bearish. Rather than post numerous charts which you’ve likely already seen, I want to note some of the recent statistics. By recent, I refer to the past two weeks. Market Vane’s bullish consensus for Gold hit its lowest since 2001. SentimenTrader.com’s public opinion, which combines various … Continue reading

The MarketVane survey shows bullish consensus on Gold, the lowest since 2001. Despite the pervasive bearish sentiment Gold has failed to break its consolidation lows.

We know sentiment is bearish, but let’s view some indicators to see just how bearish it is…

Thanks to Tiho Brkan for these updated charts…. Large specs long Gold position is at a 4.5 year low. Large specs silver longs have more room to decrease.

Hedge funds are the most short Gold since 2006, according to Dan Norcini.  Alasdair Macleod of GoldMoney has also written about this. His article can be seen here.  Quoting the first part of it: This week considerable instability developed in currency markets. The yield on US Treasuries has been rising, signalling that they may have … Continue reading

Since the end of December we’ve been writing about the coming bottom in precious metals. Our forecast for 2013 was to see a low in Q1 and then continued consolidation until the end of the summer in which Gold could be in good position to break $1800. That forecast remains largely intact, although it appears … Continue reading

David Morgan discusses this article.

The following comes from Mark Hulbert at MarketWatch: Consider the average recommended gold market exposure among a subset of the shortest-term gold market timers tracked by the Hulbert Financial Digest (as measured by the Hulbert Gold Newsletter Sentiment Index, or HGNSI). When I wrote about gold sentiment two months ago, this average stood at 16.7%. … Continue reading

While the gold stocks have enjoyed a decent recovery, they have certainly lagged the broad market which has almost broken out to new highs. Should you be worried that a major shift is in place? Hardly. The fact is the broad market is in the latter stages of its a cyclical bull while gold stocks … Continue reading

Lately we’ve been writing about the precious metals stocks. In particular we believe the equities have made a multi year bottom and look ready for a solid 2012 and 2013. Part of the reason is the action in the metals (Gold & Silver) suggests an important bottom is in place and a rebound is underway. … Continue reading