Net-Non Commercial Long Positions in Silver

This is also known as the “speculative long position.” The chart is from

Gold at Record Highs, but Bullish Sentiment Lags

Over the past few weeks Gold has traded at or near record highs. It has yet to embark on a sustained breakout but that is not because Gold is a crowded trade. In recent months money has moved into equities, Oil and Silver. As a result, some hot money and speculative money has moved out … Continue reading “Gold at Record Highs, but Bullish Sentiment Lags”

The Driver for Gold You are Not Watching

From Jeff Clark of Casey Research… You already know the basic reasons for owning gold – currency protection, inflation hedge, store of value, calamity insurance – many of which are becoming clichés even in mainstream articles. Throw in the supply and demand imbalance, and you’ve got the basic arguments for why one should hold gold … Continue reading “The Driver for Gold You are Not Watching”

Canadian Wealth Managers Less Bullish on Gold

This comes from Reuters: The fading allure of bullion and gold stocks is tied to rising prospects for the global economy, said Howard Atkinson, the president of BetaPro Management Inc, which puts out a quarterly survey on adviser sentiment. The latest results showed a big drop in expectations for gold following two years of consistently … Continue reading “Canadian Wealth Managers Less Bullish on Gold”

BCA Research on Gold Bull Market

Back to gold bullion, BCA Research argues that it is hard to make the case that gold is currently “a crowded trade”. Many institutional and retail investors agree with the gold bull case but….

Spec Money Exits Gold & Silver but Remains Heavily Long Other Markets

There are many ways to measure market sentiment. We use surveys, put-call ratios, fund flows data and for commodities especially, the commitment of traders reports (COT). Lately, we’ve noted the improving sentiment picture for Gold. As a market weakens sentiment will naturally become less bullish. In this case, sentiment has weakened considerably yet Gold is … Continue reading “Spec Money Exits Gold & Silver but Remains Heavily Long Other Markets”

GTU Premium

This chart comes from Babak at TradersNarrative: The premium in GTU has dipped into the red for the first time since October 2010 and prior to that, late 2008. This is positive as it shows optimism is now quite low, if there is any.

Bullish Sentiment in Gold Abates

An upward sloping consolidation in Gold that began in October has, despite a lack of any real losses, been enough to improve various sentiment indicators. Mark Hulbert of MarketWatch gives an update on his Gold sentiment indicator: Consider the average recommended gold market exposure among a subset of short-term gold market timers tracked by the … Continue reading “Bullish Sentiment in Gold Abates”

Update on Hulbert Sentiment Indicator

Quoting the Market Watch piece: Fortunately for the gold market, the HGNSI is not at overheated levels right now. It currently stands at just 40.3%, which means that the average gold timer is allocating 60% of his gold portfolio to cash. That’s amazing, given that gold bullion is back to within shouting distance of its … Continue reading “Update on Hulbert Sentiment Indicator”

Technical Targets for Gold, Silver & the Gold Stocks

The precious metals sector is at an important juncture. Let’s take a look at the potential upside targets. First lets start with Gold. Gold has formed a bullish cup and handle pattern, which is more bullish than usual due to the handle being formed at a higher level than usual. The pattern projects to $1450. … Continue reading “Technical Targets for Gold, Silver & the Gold Stocks”

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