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Subject COT report shows bullion banks now NET LONG as of Friday's close!! Gold and silver to should get some massive updays...very soon
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Original Message The big bullion banks i.e. the dubious ones short gold and silver (and whom really make the prices move), have reduced their short positions seriously after Friday's plunge in the metals.

In a nutshell, they have become more long than short (net reduction of shorts or adding to longs) by a significant 8 to 1 factor, more long silver by a 7 to 1 factor, and more short US Dollar by a massive 23 to 1 factor.

The COT report, which comes out after the market is closed, suggests some positive things in that respect:

1) They are less sure on shorting silver/gold, and getting out while they can.

2) Net long positions will offset their short positions, so less motivation to raid prices hard and suppress by any and all means.

Commercial traders in silver, the largest group (and the ones who control the price more or less) decreased net short position by a total of 4,679 contracts, or 23,395,000 troy ounces.

In gold, the commercials decreased net short positions by 12,840 contracts which, multiplied by 100, is a reduction 1.284 million ounces. The commercial net short position is now down to 19.76 million ounces...and it hasn't been under twenty million ounces for a long time.

You can get the COT report here:
[link to www.cmegroup.com]
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