Monday, February 7, 2011

Banks covering silver shorts fast

Gene Arensberg from The Got Gold Report, discusses the recent trader positions report, for futures in the silver market.  Large commercial traders are reducing their silver short position as silver moves higher.  Commerical traders covering their shorts will be a catalyst propelling prices even higher. 

We have many catalysts in silver showing silver is ready to move higher. 
  1. Shortages
  2. Backwardation
  3. Large commercial traders reducing their short position
  4. Large withdrawals from the COMEX
You can find Arensberg's article "Bullion Banks Get Smaller in Comex Silver Futures" here.

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